- For bears of Silver price has to sustain below 20 Week SMA and 32.44 Levels.
- Fibonacci levels in daily chart shows possible support levels.
- Cloud in four hour chart is acting as resistance.
- GOLD CHART ANALYSIS
March 14, 2012
ONE HOUR CHART
- ES Hour chart continue to trade above crucial moving averages. No weakness in hour chart as long as price stays above 20 Hour SMA.
- Daily chart continue to move up in the bullish part of the channel.
- S&P 500 ANALYSIS AFTER CLOSING BELL
- Daily has closed above 20 SMA.
- Week should also move above 5 Week High EMA today.
- Dip from 5629 started from just above the Ichimoku cloud as shown in weekly chart. Now if the week manage to close above the cloud again we could see bigger up moves.
- Weekly candle closing above 5 Week High EMA should add strength for bulls.
- S&P 500 EOD UPDATE