May 9, 2013

SILVER Triangle pattern

  • Triangle shown in the below post has given a breakdown.
  • Crucial levels of silver on the downside are 23.20, 23 and 22.55 
  • Silver 4 Hour chart in a triangle pattern. Price closing outside this pattern may result in a bigger move.
  • Fib levels of 4 Hour chart shows price stuck in a range between 23.6% and 38.2% Fib level which has to resolve for an extended move to happen.
  • Last chart the weekly time frame shows the broken level of 26 as resistance. Any up move from here will find it tough to cross the previous support level of 26.

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