August 31, 2011

SILVER Ascending Triangle pattern

  • If it is going to be an upper breakout which is what ascending triangles tend to do, then price should sustain above 200 Hour moving average
  • Second chart shows price getting resisted at 200 Hour moving average.
  • If price continues to get resisted we may see a breakdown from this triangle pattern in favor of bears as well.
  • S&P 500 ANALYSIS AFTER CLOSING BELL

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