December 22, 2010

Ascending Triangle of SILVER

  • Silver hour chart gives an ascending triangle pattern.
  • But price is finding it tough to sustain above 29.500 levels.
  • Now that the price is near the apex of the pattern we will get good direction soon.
  • As the pattern is an ascending triangle one can hope for a bullish breakout. One cannot rule out the possibility of the supporting trend line getting broken too.
  • CRUDE OIL SUPPORT AND RESISTANCE LINES

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