Apr 11, 2011

Is Silver Forming A Top For Shorterm ???

Though It Difficult To Predict A Top In Silver But Looking At Silver Charts May Find It Difficuilt To Cross 41.97-43$ And Might Top In Near Term  Due To Following Resons ...

1) The Entire Rally Which Started In August From Levels Of $17 To 32$ In Jan Has 61.8% Extensions  Arnd 41.94-43$
2)The Recent Rally That Started In Last Week Of Jan From Level 27$ To 36$ In Mach Also Has 61.8% Extensions At 42$ Mark
3) As Per Our Expectations Looking At Chat We Feel There Are Three Instances In The Past Whenever RSI Touched 82-85 ODD Levels A Dip/Correction In This Commodity Took Place ..Now That RSI Is Again Approaching 82 Mark A Correction  Is Possible In Coming Days ..
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Updated at 11.47  /11th april / Karnataka / India


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