- Silver Month week and Day time frames shows strong down trend.
- Daily time frame will continue to favor bears as it stays below 50 and 200 Day SMA.
- GOLD WEEKLY SUPPORT ZONE
October 27, 2014
- First chart shows the Monthly time frame which is near a support band between 1.20 - 1.25.
- Weekly chart shows a Bearish flag breakdown with possible target of 1.20 levels. Weekly close below 1.20 will further extend the down trend.
- Daily chart too shows the Ichimoku cloud as strong resistance. Any possible bounce only on price staying above the cloud.