Sunday, January 9, 2011
Precious Metals
Precious metals are at key support levels. GLD has tested the 133 level for the past 3 days. If it fails to hold, then 130 will be the next level of support. SLV is in a similar position. It's barely holding the 27.90 level. The next support is at 27. Given the price actions, risk/reward favors more downside moves.
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