May 3, 2011

SLV Tests 20 DAY moving average

  • SLV Daily is testing its 20 day moving average.
  • Price closing below this level will favor bears. Last time price did make a good up move from this moving average. But for now bears seems to be having good momentum.
  • Hour chart is trading below 50 Hour moving average and support area between 43.60 - 43.80 is broken now. Bulls shall try to stay above 44 for pushing prices higher again. For bulls day should also close above 20 DMA.

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