February 23, 2012
- Price fell from the resistance level took support at the middle of the range. Price testing the resistance level again. This time bulls seems to have the momentum for a breakout
- Crude oil in a range between 104.64 to 106.47
- Price is unable to stay above the resistance level. 106.47 - 106.79 level is acting as resistance.
- Price violated the range on upside and 200 SMA.
- Daily close above 200 SMA will give further momentum for silver and may target 37 levels.
- Unable to close above 200 SMA or above the range resistance line will lead to a fall in silver towards the bottom of the range.
- SPY SUPPORT AND RESISTANCE LINES
All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.