November 30, 2012

SILVER Trend update

  • SILVER Daily chart is getting resisted at 78.6% Fib level.
  • Bigger correction only if 50 Day SMA Gets broken.
  • 4 Hour cloud too has acted as support during this up move. Breaking below the cloud may lead to a reversal.

S&P 500 Analysis after close

  • SPX Testing 50 Day SMA. 
  • Price also near Golden ratio.
  • Breaking above these two levels may take SPX Towards the daily cloud which for the current week is  at 1435 levels.