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CHARTWORKS - May 6, 2011
Silver & HUI – Ready for a Bounce

Technical observations of

Bob Hoye
Institutional Advisors
Posted May 16, 2011

The following report was published for our subscribers May 6, 2011.

Silver has given up 40% of the 30-month rally in just five trading days.  We should look for a recovery of 38% to 40% of the $16 decline.  This targets $39 to $40 as resistance.

(Click on images to enlarge)

The HUI is straddling the 21-week moving average and also eligible for a bounce, however the best support is at 470.


May 6, 2011
Institutional Advisors

Hoye Archives

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