SILVER : Close to an upward acceleration
In early 2012
|| 02/06/2012 | 08:45am
Opinion : Bullish above 38 USD
Target price : 50 USD Potential: 31.58%
, investors have returned to the purchase of all raw materials including precious metals.
Widely sold by
operators in the second half of 2011, silver has benefited from the decline of the dollar during the month of January. It has indeed benefited from the technical arbitration conducted away from the dollar for the entire asset class of commodities.
Meanwhile, the announcement of the
Federal Reserve of the United States to keep its interest rates at a low level until 2014 helping to keep the pressure on the dollar. Therefore, as long as the monetary easing measures will be maintained, the silver will be among the major beneficiaries of financial decisions.
Technically, the dynamics of the
price of silver remains bullish on daily data over the 29/32 dollar threshold coinciding with the 20-day moving average. In weekly, the index approaches the upper limit of its bearish channel launched in April 2011 located around 38 dollars. While crossing the rise of bearish channel Medium Term (Weekly closing> 38) may cause a gradual upward acceleration of the price of silver towards the 2011 annual summits located around the key threshold of $ 50.
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