June 20, 2011

SLV Moving towards resistance line

  • SLV Hits the resistance line which was discussed below.
  • Now price is not showing enough momentum to breakout above the resistance line.
  • Break below the dotted line can be used to go short. 
  • TODAY'S ASCENDING TRIANGLE OF SPX UPDATED
CHART-I
  • SLV Hour chart with the channel.
  • Price is moving up towards the resistance line.
  • Price staying above the dotted support line will favor bulls. Bigger up move will be possible only if the resistance line gets broken.
  • GAP at 36 level will also act as resistance.
  • RIMM CHART ANALYSIS

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