- Silver breakout has hit resistance at swing high
- Price still inside the range between 26.11 - 28.45
- Silver bulls need a cloud breakout for an extended up move.
- For now price is testing the trend line which was broken earlier. Taking support here an up move looks possible.
- GOLD FALSE BREAKOUT
August 1, 2012
- Nifty month chart failed to confirm upward momentum by closing below 5 Month High EMA and the falling resistance line.
- Weekly chart is testing 5 Week High EMA. Week has to close above this moving average and the resistance line to confirm a breakout.
- Daily is trading above 5 Day High EMA and 20 SMA. Daily is also trading near golden ratio which should be crossed on a closing basis
- TATA MOTORS CHART ANALYSIS
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