Posted by: joetradingplace | May 15, 2015

Silver

Looking at the silver daily chart, price has broken the 18.25 support zone, but watch how selling pressure is not aggressive below support. To me this is a first sign that selling pressure might be dying, because if yu look at the chart, price was in a symmetric triangle and when it broke out yu expect it to drop. But the drop hasn’t happened, shows how buyers are holding the 15.50 zone, if price breaks back above 18.25 zone and stays above, i will be bullish on silver. So now we wait and watch how price reacts to 18.25 zone and we take action. But for now we seat on our hands.

Screen Shot 2015-05-15 at 10.28.21

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: