August 13, 2013

  • Silver testing 100 Day sma
  • Price near 23.6% Fib level
  • Sustaining above the cloud may extend the up move. Weakness on price falling back into the daily cloud.

  • First chart shows Fibonacci support levels for today's correction
  • Daily chart shows weakness at resistance levels.

  • Blackberry daily chart near the GAP
  • Price near 50 Day SMA and 38.2% Fib level which may act as resistance.

  • Daily chart is trying to move up from a bullish engulfing pattern. Weakness on price falling back below 5557 levels.
  • Bullishness can only be confirmed on price closing above 5 Week High EMA.
  • last chart shows crucial support level in weekly chart. Bigger weakness only on price closing the week below 100 WSMA.


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"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore