Silver Technical Precious Metals (2010-01-05)
January 5, 2010 9:43 PM EST
Silver extended its gains yesterday in order to gather the momentum it needs to activate the bigger picture, which we discussed yesterday. It succeeded in forming a bearish harmonic AB=CD pattern, seen on the four-hour chart. Negative signs appear on AROON and RSI 9 support the anticipated negative direction for today.
The trading range for today is among the key support at 16.25 and key resistance now at 18.45.
The general trend is to the upside as far as 12.45 remains intact with targets at 20.15.
|Recommendation||Based on the charts and explanations above our opinion is, selling silver from 17.60 targeting 17.05 and stop loss above 17.95 might be appropriate.|
Most Popular Slideshows
- Jeremy Lin, Kobe Bryant Among The Top 5 Overpaid Players In The NBA (Part 1 - Western Conference)
- Reasons Why Michael Jordan Is Better Than LeBron James [PHOTOS And VIDEO]
- Dwyane Wade, Joe Johnson, Amare Stoudemire Among Worst Contracts In The NBA (Part 2 - Eastern Conference)
- Brawl-Marred Game in NFL Week 3: Philadelphia Eagles 37, Washington Redskins 34 [PHOTOS]
Join the Conversation
- New Samsung Galaxy Note 4 and Galaxy S5 Android 5.0 L Killer Features, Encryption and More
- Nexus 6, 8 Release Date is Halloween 2014 as Android L Intro Set for October 16
- Moto G 2014 v Asus Zenfone 5 – Specification Comparison Shows Zenfone 5 Is A Good Alternative for Moto G
- Android 5.0 L Nexus 4, Nexus 5, Nexus 7 Release in October, Google Employees Offer Hint
- Nexus 8, Nexus 9 Release Date, Device Name And Price Conundrum: What To Expect?
- Microsoft Doubles OneDrive Space To 30GB Due To iOS 8 Update Issues
- New Zealand Could Be Next ISIS Target After Australia Beheading Plot, Says Expert