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Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: TD who wrote (2710)	3/18/2000 12:25:00 AM
From: TD	Respond to of 8010

Silver held above the $5.02 support level despite several attempts to break lower. Traders have been encouraged by silver's ability to rally in the face of huge increases in domestic warehouse stocks. Yet the prospect of more metal arriving from London continues to dampen sentiment, although the pace of the inflows has slowed considerably. The recent news release on silver by the CPM group predicts a more bullish picture for 2000 with a net deficit expected and demand continuing to increase. Technically, the current silver market reflects the potential for formation of a double bottom pattern. It would take a break back above $5.40 to confirm a bullish breakout. If this takes place the next upside target would be the $5.80 highs from October. However if the $5.02 price support is breached, the market could retest the horizontal support at $4.85. Silver closed the week at $5.06 and finds support at $5.02. Key overhead resistance is at $5.40.