June 12, 2015

  • Silver week continues to be weak near the cloud. Major trend continues to favour silver bears.
  • Daily chart shows price near a possible support line, If held an up move is possible. This one looks like a failed triangle breakout. Failed breakouts tend to give bigger moves in the opposite direction if the support levels are not held.

  • 4 Hour chart shows price testing a resistance zone. Daily chart has finished a bullish Golden cross. 50 has moved above 200 Day SMA. For now though price is struggling to cross the resistance zone as shown in chart 2. Weakness gets confirmed if price stays below One hour lco 


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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