Tuesday, April 24, 2012


A quick post on silver

Silver Monthly - Note the pink LT resistance diagonal and see it in the following charts. Also note the yellow support diag and the green channel.

Silver Daily - Green channel down thru busted LT pink resistance and moving towards NT yellow support. Trading under the 200dma which is not good and that adds to the resistance above.

Silver 4hr - Closer view with blue NT support diag. Little crack (lower low) of NT price support as well. You have rising yellow support under rising pink resistance and price channeling into support under channel resistance. Indicators are mixed. Looks like there is still weakness. I would not be a buyer till green channel resistance is busted and has had a backtest.

GL and GB!

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