- Silver weekly chart shows a bullish close. This move may target the broken support line of the weekly Descending triangle shown in first chart.
- Price has also made a close above 20 Week SMA or Middle Bollinger band. Price is likely to move towards the upper bollinger band.
- Immediate resistance level at 38.2% Fib level near 24.50.
- S&P 500 Weekend update
August 17, 2013
- S&P 500 Managed to close below 50 Day SMA. But the closing does not looks convincing and Bears need to do more to pull prices down further.
- Price is at 38.2% Fib level which is at 1652. This level has to break for extending the down more.
- Bears must take care as Daily stochastic is reaching oversold zone. Bearish Below 1652. Strength above 1664