- SLV Daily chart shows price near a possible support line with oversold RSI.
- Recent oversold RSI and price dips to the support line has resulted in an up move. Now price and RSI is showing a similar alignment.
- Last chart shows Death cross which may invalidate the above bullish possibility.
- GLD WEEKEND UPDATE
March 3, 2013
- First chart shows a weekly falling resistance line which may act as support now. Price is also falling towards horizontal support zone of 148.27 levels.
- Horizontal support zone near 148 is also the Golden ratio. Last chart shows oversold weekly RSI.
- Oversold readings and Crucial support zone may give a long trade in GLD in the coming weeks.