ECU SILVER

Toward a Positive End of the Consolidation Phase

Technical Analysis

By : Patrick Langenberger

ECU SILVER

Profile : http://www.24hgold.com/InfoCompany.aspx?id=171

ISIN : CA26830P1053

Technical indicators point to a positive end of the consolidation phase.

After a very high upward movement in the first months of the year, which saw a 654% increase between 0.44 and 3.40 (May 11th), Ecu Silver has been trading in a slightly negative consolidation trend.

Nevertheless, no major technical damage has been done, despite two downward drifts, first to 2.29 on Mai 19, second on 2.15 on June 14^th.

This consolidation has morphed in the past few weeks into an accumulation phase with, very recently (August 8^th and 9^th) , upward movements in large volume. Other technical indicators also show strength, and our specific indicators show a definite upward trend.

Thus, a new upward move should be in the works, with 2.76 as a first resistance level. A second resistance level at 3.32, corresponding to the highest point reached in May, would be the ultimate level over which a large acceleration could happen.

Thus the very classic flag configuration we have seen since January 2006 allows us to consider a potential of 4.45 to be reached between November and December.

Patrick Langenberger

24hGold

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