Here is an hourly chart showing pit and electronic trading in July silver futures. (Ignore the long vertical black lines because they result from data transmission errors.) I last commented on this chart here.
I am expecting silver to make a top lower than the 1484 top on April 19. I calculate resistance at 1410 and I observe that the latest swing up from 1370 support is visibly shorter than the last upswing, thus giving the chart a "rounding over" look. I think that short term resistance today is at 1423 and that a break below 1370 would signal the start of a move to 920.
No comments:
Post a Comment