August 24, 2011

S&P 500 Analysis after closing bell

  • If 20 DMA and 50 Hour SMA gives support 1208 levels looks possible for bulls during this week.
  • But  one should remember that this consolidation is happening in a down trend. And 20 Day SMA acts as stiff resistance during such trends So we shall see how price reacts from there when it hits it.
  • SLV TREND UPDATE

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