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Spamwich
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Specialty: Technical Analysis Name: Michael Payne, CEO of No Payne Roofing Inc. Objective: To share results of technical indications Experience: Relentless market participation since November 2011
My company:
No Payne Roofing Inc
  • 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 (92) | Send Message
     
    Thanks Spam!
    3 Mar, 06:57 PM Reply Like
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