- Silver testing 200 Day SMA.
- Silver bulls need a daily close above 200 SMA to extend gains. Closing above 200 SMA may also give a weekly close above 38.2% Fib level which should take this up move towards the Broken support line of the Weekly Descending triangle.
- Price unable to close above 200 Day SMA may lead to a fall.
- GOLD Support and Resistance levels
August 28, 2013
- GOLD One hour chart shows price making new high's above the rising support line.
- But Monthly charts are fast approaching crucial resistance levels which has to be crossed for extending this up move.
- Between 1435 and 1450 Price has to cross 50 Months SMA and 38.2% Fib level which were broken during the previous down move. So this zone may act as resistance. Daily close above this zone will make gold bulls stronger.
- CRUDE Oil testing the breakout
- Crude oil daily chart shows price testing the range breakout.
- Sustaining above 109 levels this up move will continued. Weakness on price falling back into the range.
- Below 109 price may dip towards the Triangle resistance line as shown in second chart.
- S&P 500 Analysis after closing bell
- First chart shows the recent Dips below 100 Day and the up move which followed. So bears need follow up to strengthen this move.
- Daily chart shows price nearing Golden ratio which may act as a pause or a support level for bulls.
- Weekly chart shows a rising support line which should also be taken out by bears to extend the down move.
- APPLE Support and Resistance levels
- Apple MACD looks bearish and if price falls below 20 Day SMA at 482 It may extend correction towards the 200 Day SMA.
- Immediate support levels for Apple at 482 and 484 which is the 20 SMA and the 23.6% Fib level.
- Weakness in weekly chart at 100 Week SMA is helping bears to extend gains. A bearish weekly candle here will strengthen bears further.
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