October 15, 2012
- Gold 4 Hour chart shows a possible support zone which has to be broken by bears for reversing the trend and changing the bullish structure completely.
- Price also near 50 Day SMA and 10 Week SMA.
- Weekly chart is falling after a bearish inverted hammer pattern at the top. More falls if the levels mentioned above fails to hold.
- SILVER CHART ANALYSIS
- First chart is the bigger time frame which shows price trying to take support at the daily trend line.
- Next two charts are hourly time frame which shows price testing immediate resistance lines. If the attempts at the lower time frames are successful we may see a bigger up move in daily chart.
- SPY WEEKEND UPDATE