August 21, 2012

SILVER Ascending Triangle Breakout

  • Silver has given a breakout from the Ascending triangle pattern which was discussed in an EARLIER POST.
  • Now price must close above 200 Day SMA and 23.6% Fib level to sustain the momentum
  • Failure to trade above 23.6% Fib level will be negative for silver bulls. This level has acted as resistance before as marked in the chart.

No comments:

Post a Comment