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Gold Silver - 14th January 2011

Jan. 15, 2011 12:08 PM ET
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Silver's winning streak since August 2010 has finaly broken below the 30 day moving average trend line. After mounting a brief recovery early this week, the slammer came with silver breaking right down and closing right on the 50 dma. MACD is in descent....a downward unwind could be on the cards here.

Similarly gold has broken below its 50 dma for the second time in the last week. 100 dma support lies at around $1344.

A lot of the action was driven by some wild moves in the USD index which dropped from 81 to 79 this week.

Happy Trading!

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