November 13, 2013

SILVER Descending triangle

  • Silver testing crucial support level. price sustaining below golden ratio will extend the fall towards 78.6% fib level.

CRUDE Oil near weekly support levels

  • Crude oil weekly chart shows price nearing the rising support line and the Weekly cloud. If these levels are held a bigger bounce can happen in crude oil.
  • IWM Channel and Negative Divergence

IWM Bullish channel and Negative Divergence

  • IWM Bullish channel shows price consolidation for the next upper breakout. This stair step up move is likely to continue.
  • Weekly MACD Histogram and price shows good divergence, But this is of no use until price shows up some weakness. 
  • Immediate weakness below 107.14, Bigger time frame can confirm weakness only on closing below 20 week SMA.
  • CISCO Chart Analysis