- Silver hour will favor bulls if it can stay above 200 Hour moving average.
- If price does not stay above this level we may see a correction
- Second chart looks bullish But price has immediate resistance at 39.83. We might see good up moves if 39.83 level is taken out.
- If the triangle breakout fails things will favor bears for a correction.
- SILVER WEEKEND UPDATE
- QQQ Four hour chart with Fibonacci levels shows price near 38.2% Fibonacci level.
- Price is also near 20 Period moving average for four hour time frame.
- So for bulls to extend profit they should sustain above these levels.
- GLD TREND UPDATE
- GLD short term trend will favor bulls if they manage to hold on to the 50 Hour moving average.
- Dip below 50 Hour moving average may attract shorts.
- Important level to watch is 167.75. Price staying below 167.75 may give a short trade.
- SILVER WEEKEND UPDATE
- Silver weekly chart shows price holding on to 20 week moving average on closing basis.
- Daily time frame seems to be getting support from 50 DMA.
- Hour is moving towards resistance in the form of 200 Hour moving average. If price gets resisted here one can remain short.
- Price sustaining above 200 Hour moving average can give good gains to silver bulls.
- AAPL WEEKEND UPDATE
- DEATH CROSS OF S&P 500
- Daily chart has confirmed the bearish event the death cross. Last death cross did not do well so expecting this one to perform better.
- Price rally's may find resistance at higher levels.
- Weekly chart shows 1210 - 1230 as resistance level. Daily chart shows 1247 - 1260 level as resistance.
- So it is better to go short at higher levels, preferably between 1230 - 1260 level with small stop loss.
- Price moving back above 200 DMA will negate the bearish scenario.
- Thing in favor of bulls is the weekly candlestick pattern which shows strong buying at lower levels. But main negative is the amount of technical damage happened last week. Key support levels were violated and now when price gets back to these levels they will act as supply zones once again.
- AAPL WEEKEND UPDATE
- Bears of AAPL need the stock to dip below 364 and the last swing low which is 353.
- Bulls will be safe as long as they stay above 20 week moving average as shown in 2nd chart
- Bulls can extend profit if they are able to close above 20 Day Moving average.
- Bears need 20 DMA to act as resistance.
- USO RISING TO THE BREAKDOWN LEVEL
