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Overall trend of the Silver is bearish for medium-long term .Currently Silver is in strong downtrend with good momentum and the trend is supported with good volume The open interest is not increasing with trend .. The oscillator is showing SELL signal For short term Silver is in SELL position.
Currently Silver is in HOLD SHORT position Silver is showing some Up momentum So buy above 56315 with stop at 53732 The oscillator is showing SELL signal.
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Gold declined for the first time in four days here today but although it rally to a six- week high spurred some investors to sell the metal.
The gold fell USD 8.25, or 0.5% to USD 1,755.57 an ounce. Bullion gained 1.5% yesterday, the most in a week, after the European Central Bank unexpectedly cut interest rates and said Europe is heading toward a "mild recession".
Silver also fell 0.8% to 34.28 dollar an ounce. It is looking consolidate for last trading session. May be the Europe rising could be a reason.
