May 5, 2011

SLV Analysis after closing bell

  • SLV Hour is falling down in a narrow channel.
  • Price has closed below 200 Hour moving average which is very negative for the bulls. Last time price made a bullish cross above this moving average was at 28.
  • Price has closed just above its 50 day moving average. Problem for the bulls is momentum of bears. From 48 to 38 it took only 4 daily candles, alarming signs for the bulls unless they hold on to 50 day moving average.

No comments:

Post a Comment