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Silver Futures May Decline to $38 by End of September: Technical Analysis
Sep. 16, 2011 01:53PM PST
Silver InvestingBloomberg reported that a technical analysis said silver futures may extend their recent losses.
Bloomberg reported that a technical analysis said silver futures may extend their recent losses.
The market news is quoted as saying:
The precious metal probably will slide to $38 an ounce by the end of September, down 3.8 percent from yesterday’s closing price on the Comex in New York, after the commodity dropped below the support level on a trendline connecting the lows of July 1 through Sept. 7, according to Spencer Patton, the Chicago-based chief investment officer for Steel Vine.