- GOLD Daily chart shows price moving towards the trend line.
- If the trend line is held an upper breakout is possible
- Four hour chart shows price in a triangle
- Crucial support here is 1792. If this number is held an upper breakout is possible
- Price breaking the trend line and staying below 1792 may give a correction.
September 14, 2011
- SPY hits the resistance line at 118.60 and starts to come down.
- Price has to stay above this resistance line for an up move to happen.
- Failure to stay above the resistance line and falling below 117.56 may result in a bigger correction.
- SPY RESISTANCE LEVELS AND GAP - YESTERDAY'S POST
- ES Hits 200 SMA for four hour time frame
- Twice this line has helped bears with a correction
- Now for the up move to continue price has to sustain above this level. 1203 will be the next resistance level if price manage to breakout.
- SILVER REFUSING TO CLOSE BELOW 50 DMA
- SBIN Weekly and Daily chart is moving down in a channel.
- Daily chart shows price trending down below 20 day simple moving average.
- Channel in daily chart is hinting the end of this down move. But Fibonacci levels suggest some more pain for bulls.
- Breakout above the daily channel or a close above 20 day moving average may give an up move.