May 2, 2011

SILVER - Week Day and Hour chart

  • Hour chart is struggling to close above 200 hour moving average. Once price sustains above 200 hour moving average Bulls will start to push prices up again.
  • For day trend to change price should sustain below 20 day moving average. Price did violate this level once But could not sustain below 20 DMA. So For bears they should try to break 20 DMA.
  • Week is safely sailing above the longterm Bullish trend line.

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