- First chart shows price hitting the support line of the small channel drawn in daily time frame. So it is at a make or break area.
- Next chart shows price forming a descending triangle pattern in daily chart. Price is above its 50 day moving average.
- Hour chart looks interesting, Price is converging between 50 Hour and 200 Hour Moving average, So we must get the first clue from the hour time frame to which direction this is going to breakout.
- SLV ANALYSIS
- SLV Day got resisted exactly at the 50 Day Moving Average.
- Hour is forming a range from 33.58 - 37.90.
- Breaking the cloud in hour is going to be tough for bulls.
- If 33.58 Breaks we may see the next leg down for SLV
