May 28, 2015

SILVER Tests 200 Day SMA

  • Silver one hour chart shows immediate support and resistance levels.
  • Daily chart shows bulls trying to stay above 200 Day SMA
  • Bigger time frames are looking weak. Weekly cloud is acting as stiff resistance.

Nifty chart analysis

  • 20 Day SMA and 8325 levels are crucial for bulls to hold above on closing basis.
  • Bears are looking at RSI to become overbought and a falling resistance line.