May 30, 2012

SILVER Triangle pattern

  • Silver Four hour chart shows a contracting triangle pattern which should resolve soon.
  • Daily chart shows price unable to close above 20 Day SMA. Bulls need a close above 20 Day SMA for a breakout in their favor.
  • For bears the Weekly support level looks strong between 26.02 - 26.75 level. This level has to be broken for bigger down moves to happen.

No comments:

Post a Comment