- First chart shows price in weekly chart hitting the 20 week moving average and pausing here. Problem is with all that selling volume will the bears stop here? I feel more down moves to come in the coming weeks before we see a reversal.
- Trend lines are projecting price towards 31 - 32 level in the short term.
- Important supports are at 34 this is were the market closed and then the most important one is at 26.74 we have the 50 week moving average around here which will make it an important support level.
- SLV INTRADAY UPDATE
May 8, 2011
All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.