September 12, 2011

SILVER Testing 50 SMA

CHART-II
  • Price has broken the triangle pattern in four hour chart.
  • If price closes the daily candle at these levels it's a close below 50 SMA which will favor bears of silver.
CHART-I
  • Silver daily is testing 50 day moving average again.
  • four hour chart shows price at the support line of the triangle.
  • Bulls were saved many times by 50 SMA in the recent past. So if it gets tested repeatedly a breakdown may happen.
  • For now price is pausing at the triangle support line. Bulls must hope for a bounce from the support line of the triangle.
  • ES TRIANGLE UPDATED

No comments:

Post a Comment