April 7, 2012

SILVER Weekly update

  • Silver week sustaining below 50 Week SMA will continue to favor bears for a bigger correction towards the support line of the Big Descending Triangle pattern. 
  • Up moves from here should trade above 50 Week SMA and the falling resistance line for a bigger turnaround to happen.
  • Silver bulls have been expecting the golden cross to happen But its getting delayed 50 SMA is moving away from 200 SMA, a fast fall is likely if this setup remains like this.
  • Price sustaining below the cloud will favor bears on every rise. 
  • GOLD NEAR LONG TERM SUPPORT LINE


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