October 31, 2014
- Reliance industries heading into a resistance line and daily cloud.
- Price need to sustain above 50 day sma to extend this up move.
- Clearing 1010 - 1015 levels on closing basis may give bigger up moves. Weakness at the resistance line may lead to a correction
- Silver daily getting resisted near 50 Day SMA
- Hour chart shows a range breakdown.
- sometimes before a big reversal a false spike below the recent low is possible. If daily does not give a lower close there is hope for silver bulls. But for now it remains a hope for those who were long.
- All major time frames remain in favor of bears.
- SILVER TREND UPDATE