| Followers | 148 |
| Posts | 34814 |
| Boards Moderated | 3 |
| Alias Born | 06/16/2004 |
Monday, December 28, 2009 8:53:12 PM
***FAILED RETEST OF 50 DAY MOVING AVERAGE TODAY***
If today's low breaks this week, look for a swoon towards the 200 day moving average or around the psychological $1,000 mark... Near-term we have more downward pressure than upwards likely due to the resistance that was built off of this entire sell-off...
While a break above today's high and 50 day moving average would be bullish, it's hard to see the move snapping back up to test all-time highs, a consolidation pattern lasting approximately 3-months would be more likely in that scenario with a test of the 200 day MA still likely to take place...
If today's low breaks this week, look for a swoon towards the 200 day moving average or around the psychological $1,000 mark... Near-term we have more downward pressure than upwards likely due to the resistance that was built off of this entire sell-off...
While a break above today's high and 50 day moving average would be bullish, it's hard to see the move snapping back up to test all-time highs, a consolidation pattern lasting approximately 3-months would be more likely in that scenario with a test of the 200 day MA still likely to take place...
HI-HO SILVER !!!
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
