October 27, 2014

  • Silver Month week and Day time frames shows strong down trend.
  • Daily time frame will continue to favor bears as it stays below 50 and 200 Day SMA.
  • GOLD WEEKLY SUPPORT ZONE
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  • First chart shows the Monthly time frame which is near a support band between 1.20 - 1.25.
  • Weekly chart shows a Bearish flag breakdown with possible target of 1.20 levels. Weekly close below 1.20 will further extend the down trend.
  • Daily chart too shows the Ichimoku cloud as strong resistance. Any possible bounce only on price staying above the cloud.



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My Favourite Quote

"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