To 321gold home page
Home   Links   Editorials

CHARTWORKS - JAN 22, 2012
Precious Metals Commentary

Technical observations of RossClark@shaw.ca

Bob Hoye
Institutional Advisors
Posted Jan 25, 2012

Written Jan 22, 2012

Silver and platinum have managed to close above their resistance lines from the summer highs while gold is progressing in a slower manner. Any minor corrections of $50 to $70 in gold followed by a breakout would point towards a test of $1900 by mid March. Silver should be expected to find support around $30.50 and be capable of challenging the green upper moving average band currently at $36.60 (8% above the 100-day average of the highs). In this seasonally positive period for precious metals, platinum should find support on pullbacks at the 20 & 50-day exponential moving averages (currently $1642 to $1695).

(Click on image to enlarge)

###

Bob Hoye
Institutional Advisors
email:
bobhoye@institutionaladvisors.com
website: www.institutionaladvisors.com

Hoye Archives

The opinions in this report are solely those of the author. The information herein was obtained from various sources; however we do not guarantee its accuracy or completeness. This research report is prepared for general circulation and is circulated for general information only. It does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person who may receive this report. Investors should seek financial advice regarding the appropriateness of investing in any securities or investment strategies discussed or recommended in this report and should understand that statements regarding future prospects may not be realized.

Investors should note that income from such securities, if any, may fluctuate and that each security's price or value may rise or fall. Accordingly, investors may receive back less than originally invested. Past performance is not necessarily a guide to future performance. Neither the information nor any opinion expressed constitutes an offer to buy or sell any securities or options or futures contracts. Foreign currency rates of exchange may adversely affect the value, price or income of any security or related investment mentioned in this report. In addition, investors in securities such as ADRs, whose values are influenced by the currency of the underlying security, effectively assume currency risk. Moreover, from time to time, members of the Institutional Advisors team may be long or short positions discussed in our publications.


321gold Ltd