May 20, 2015

  • Silver weekly chart shows weakness at the cloud.
  • More strength for silver bulls if price falls below 200 Day SMA.
  • 4 Hour chart shows retrace levels as immediate support zones.

  • The IHNS Breakout continues to stay valid. Bears need to fall below the yellow shaded zones in first chart to question the validity of the pattern.
  • One hour is testing the rising support line. 100 Hour SMA too is crucial for bulls to stay above to continue the momentum. 


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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