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« Silver Portfolio Update: 08 May 2007 | Main | Silver Wheaton: Good Results »
Sunday
May062007

Silver Prices set to rise higher

Silver Prices set to rise higher

Technically speaking, it looks as if silver prices are preparing for a move higher next week.

The STO for silver prices has hit the bottom of the chart and bounced off slightly, indicating a move to the upside is due in the short term.

On Friday silver prices went above their 50dma and this of course is a positive thing as over the last few trading session, silver prices have been stuck under the 50dma, now they have risen above it, we should be in for a small rally.

Gold prices rose up nearly $15 (2.22%) over the last two days, rising $5.50 (0.8%) on Friday. However silver prices were only up 20 cents over the same period, around 1.5% suggesting they should move slightly higher to catch up with the gains that gold made, provided gold prices maintain those gains when trading starts again this week.

All in all silver prices are looking good in the short term and of course in the long term the fundamentals are still all in place for silver prices to rise significantly over the coming months and years.

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