January 30, 2015

 
  • Silver Weekly chart shows previous support acting as resistance
  • Silver daily chart has 200 SMA as resistance. Price unable to stay above 200 SMA.
  • Crucial support for Silver bulls is the daily cloud. Bulls must sustain above the cloud to avoid bigger falls.
 
 
  • Strength above 499
  • Further weakness below 465 and 458.
  • Closing outside the smaller triangle in daily chart may also give the next direction.
  • Stock is moving in a bigger weekly triangle. within this Triangle price may move up towards the falling resistance line. 


Disclaimer

All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.

Followers

Blog Archive

Powered by Blogger.

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