AUG 30
What Next?
Long term- Up / -- GOES TO NEUTRAL ON A monthly close day below 27.70
Medium Term-Bearish/Neutral - Need a close above 32.00 to neutralize the downtrend.
Intermediate Term- Bullish-- Need a close below 29.20 for bearish trend
Short Term- Bullish – Need a close below 30.00 for bear trend
Initial resistance 30.85-31.25 and 2nd tier 31.85-32.00
Initial Support 30.40-30.64 and 2nd tier 29.50-29.80
the last report listed initial resistance at 30.85-31.35 and the high was 30.94. Support was listed at 30.20-30.50 and the low was 30.52
Medium Term-Bearish/Neutral - Need a close above 32.00 to neutralize the downtrend.
Intermediate Term- Bullish-- Need a close below 29.20 for bearish trend
Short Term- Bullish – Need a close below 30.00 for bear trend
Initial resistance 30.85-31.25 and 2nd tier 31.85-32.00
Initial Support 30.40-30.64 and 2nd tier 29.50-29.80
the last report listed initial resistance at 30.85-31.35 and the high was 30.94. Support was listed at 30.20-30.50 and the low was 30.52
What Next?
The key is whether silver can hold 30.50. If it begins to break from there then the 29.50 area will come into play.
There seems to be RESISTANCE FORMING IN THE 30.90 – 31.05 area.
Bottom Line
Silver still needs to overcome the downtrend line on the weekly chart and has some resistance around 31.10 and then 31.50. A close below 30.50 would favor a pullback.
YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
Do your own due diligence.
No one knows tomorrow's price or circumstance.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
King Regards
