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. 


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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