Spamwich's  Instablog

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Specialty: Technical Analysis My early years were not so rich, I had a poor family, at age 12 I landed my first job as dishwasher for $6/hr, by 14 years old my mother suggested to cut grass around our town for extra money, so with what little money I had, I put into some fliers and a lawnmower.... More
  • Silver: Sell Signals Strengthen, Immediate Downside Target Set !  1 comment
    Mar 2, 2014 4:05 PM | about stocks: SLV

    While technical support seems to be holding, the 13 EMA is giving early sell signals, while the RSI comes down from overbought conditions and the MACD begins to give us a solid sell signal. For those who do not know what a descending triangle is, you have the base support with the upper trend line making lower highs into a constricted price range, often people look at his structure as immediately bearish, however they typically give a whipsaw " Pop", which is then followed by the " drop"... This is a larger time frame ( daily ), so if there is a break of support we could easily see a grand scale impulsive drop to $15-$16, the next larger support range.

    For now I'll set my targets into the support, and watch this area for an impulsive break of support.

    Is this the bearish break down to start it all? This was spotted Feb 27

    (click to enlarge)

    Thanks for reading :)

    Stocks: SLV
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  • Sheldon Sutherland
    , contributor
    Comments (67) | Send Message
    Thanks Spam!
    3 Mar 2014, 06:57 PM Reply Like
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