August 28, 2012

ES Support and resistance lines

  • ES Daily chart with price inside a channel. Price is trading near the upper side of the channel.
  • Closing the day below 20 SMA could extend the call.
  • 4 Hour chart shows crucial support and resistance lines which has to be broken for a bigger move to happen. 

SILVER Trend update

  • Silver hourly chart will continue to trend up on sustaining above 50 Hour SMA and Hourly cloud.
  • Turnaround in daily chart too will be safe on sustaining above 200 Day SMA. Daily close below 200 day SMA may turn things in favor of Silver bears.