January 27, 2011

SILVER Descending Channel

  • SILVER Four hour time frame with a descending channel formation
  • Immediate resistance for silver is seen between 27.82 - 28.05
  • The channel bottom line is acting as support.

1 comment:

  1. Nifty For Tomorrow - Nifty future had seen sharp down fall and closed below 200 Days Moving Average. Its down fall will continue in coming trading sessions. One should adopt a strategy of selling at higher levels. Support for Nifty Future is at 5542/5508 and its Resistance is at 5715/5800. As the Nifty has broken 200 DMA, it can go down to 5400 level as selling pressure would come in the market and it has also broken the 4 months low mark, so traders are advised to avoid taking fresh position

    RESISTANCE: It has first resistance close to the level of 5715 & above this level the next resistance is seen near the 5800 mark.
    SUPPORT: It has first support close to the level of 5542 & below this level the next support is seen near 5508 mark.

    Source - Nifty Future tips