August 9, 2016

  • Silver trading in a bullish rectangle. I say bullish because price is trading above the crucial support resistance zone near 19 levels which is shown in weekly time frame.
  • So Weakness for Silver only if it starts to trade below 19 levels.

  • If price stays above the rising support line the up move should hit 44.50 levels at least.
  • Weakness in hourly time frame if price break below the trend line. Bears will also be interested if price sustains below 42.50 levels.

  • 4 Hour trend line and 2170 levels are crucial for es bulls to sustain this up move.
  • Weakness only if price starts to trade below 2170 levels. 


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"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