September 25, 2011

  • Important levels for bears are 1114 and 1101. Breaking below these levels will help bears to extend profits.
  • There is a possible support line in weekly chart which rises from 1011 and runs through 1101. If bulls are able to sustain above this line they may be able to push prices higher.
  • Another levels for bulls to take out are 20 day and 50 day SMA. Bulls will continue to feel the pressure if they sustain below these moving averages.
  • GOLD FALLING INTO WEEKLY CHANNEL
  • SILVER 50 WEEK SMA BREAKDOWN

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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore