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Sunday, August 03, 2014 5:37:20 PM
Silver Chart for 08/01/2014
Just want to talk about this chart a little.
1) Price is sitting on the 200 MA the 50 MA is .05 lower and the 100 MA .28 lower
2) it is sitting on the lower BB as well
3) CCI is and has been in an over sold condition for 8 trading days
4) MACD flipped to sell on July 14th
5) RSI is actually holding up good for the way the rest of the chart has reset to the low
6) Daily volume is building daily for the past 3 trading days with more sells than buys for the past 2 trading days
Now the question is, do the MA's hold? if so the new bottom could be in and setting up for the next move up but if not we could see a test of the previous lows around $18.75
Cheers \_/
Just want to talk about this chart a little.
1) Price is sitting on the 200 MA the 50 MA is .05 lower and the 100 MA .28 lower
2) it is sitting on the lower BB as well
3) CCI is and has been in an over sold condition for 8 trading days
4) MACD flipped to sell on July 14th
5) RSI is actually holding up good for the way the rest of the chart has reset to the low
6) Daily volume is building daily for the past 3 trading days with more sells than buys for the past 2 trading days
Now the question is, do the MA's hold? if so the new bottom could be in and setting up for the next move up but if not we could see a test of the previous lows around $18.75
Cheers \_/
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