Silver futures may climb to $22 an ounce as converging moving averages signal a short-term rebound in coming weeks, according to technical analysis by Korea Exchange Bank Futures Co.
If futures breach the 10-day average of $20.065 and the 18-day average of $20.569, this will create a golden-cross formation that is considered a bullish indicator, said Hwang Il Doo, a senior metals trader at the bank in Seoul. Futures on the Comex in New York were little changed at $19.695 an ounce at 9:39 a.m. in Tokyo.
Silver, used in solar panels and batteries, fell 35 percent this year, heading for the biggest annual loss since 1981 and surpassing a 26 percent loss in gold futures. Investors sold gold and silver on expectations that the Federal Reserve will start to cut its $85 billion in monthly bond buying as the U.S. economy strengthens.
“The golden cross will probably happen next week at the earliest,” Hwang said. “We will see a short-term rally in the long-term bearish market.”
In technical analysis, investors and analysts study charts of trading patterns and prices to predict changes in a security, commodity, currency or index.
Yeah right out of the Birth Canal...all you New Style spammers here on Yahoo do this. Steal others Posts to blend in, then start your Spam. Don't think we don't know what you are up to. Time for a new ID Linzy. This one has been sent to the chipper already. See ya !!!
Let's think of these folks for once. Imagine what they go through to make this possible. I am sure it is not an easy life style, let alone the nature of the work to bring Silver out of those mines. Each time I look at one of my Silver Eagles or bar, I am always reminded. There is value in that. A tip of the hat to all of you.
There is no way there is that kind of liquidity in After Hours...that was a consolidated block of trades from regular session that Posted late is all.
Read the reply from shockexchange 101 above. I have seen this before.
Wow a new ID right out of the birth canal, and an Expert !!! Whoo Hooo...and ya do that Ebonomics too. I am so impressed. Off to Dooshbag Land Idiot !!! Ignore !!!
The Fitch credit rating agency has warned that it is reviewing the U.S. government's AAA credit rating for a possible downgrade, citing Thursday's looming deadline to increase the nation's borrowing limit.
Fitch has placed the U.S. credit rating on negative watch, a step that would precede an actual downgrade. The agency said it expects to conclude its review within the next six months.
Fitch says it expects the debt limit will be raised soon, but adds, "the political brinkmanship and reduced financing flexibility could increase the risk of a U.S. default."
Fitch is one of the three leading U.S. credit ratings agencies, along with Standard & Poor's and Moody's. S&P downgraded U.S. long-term debt to "AA" in August 2011.
By CHRISTOPHER S. RUGABER | Associated Press – 7 minutes ago
I knew that pull-back would occur today...we had too much UP all in a row...but it still made me nervous. Then on into After Hours with the News...what a change ! I lol'd at the bashers and all...it was that price action that I had to look away !!! Good luck tomorrow, my friend !
Yes should be a good chuckle in a few years. For the immediate short term I found this interesting, especially from the air of negativity out there. It has been all downhill since that brief run in August, so the metals MAY be due for reprieve, if only for a while. I guess we will see !
and tonite the world is a little bit brighter !
"leader ov the pack." How Delusional ... a Legend in your own mind !!!
I see you are tearing it up on the BYD Message Board too ... lmao
"IMO silver and gold are dumb investments" ... then why would you be here ? I mean with all that savvy you have making these calls !!!
Not a shabby day today, but when compared to EXK, this is a laggard. Hecla would do well to do something about the excessive number of shares. So Mr. Baker...all your Huff and Puff over 10 reasons to Invest in Hecla...what IS going on with that alleged Share Buyback ? Or are you looking at doling out more Freebie Options to all your Cohorts ?