September 7, 2011

SILVER Testing 50 SMA

  • SILVER is testing its 50 Day Simple Moving Average.
  • Recent attempts to close below 50 SMA has not been successful.
  • There is a trend line support too below 50 SMA as shown in the second chart.
  • So a big breakdown may happen only if price falls below the supporting trend line shown in second chart.
  • BEARISH ENGULFING OF GOLD

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