August 5, 2011
- Weekly chart is yet to show oversold readings.
- Indicators in weekly chart is moving slower and price is moving faster sometimes this shows the strength of the trend.
- Important levels in weekly chart is getting broken easily. Was expecting 1217 to hold for at least one day, It did not. It seems next stop is around 1150 levels.
- Daily chart looks oversold and will it give a bounce? In a normal situation we would have seen a bounce But this one looks like a strong bear rally and most of the rally in such situations takes place by staying oversold. Even if we get a bounce 1217 levels which was broken may act as resistance.
- SILVER CHART ANALYSIS
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