Silver Morning Technical Report 22/7/2014
ecPulse
2014-07-22 07:54AM UTC
Resistance levels around 21.08 managed to halt the bullish momentum yesterday then the price moved back to the downside. Trading below 21.08 weakens the harmonic Alternative Bat Pattern, as trading below 21.00 keeps the price below the classic resistance.
Linear Regression Indicators crossed over negatively earlier and MACD is trading negatively. Technical indicators indicates a downside move today that remains valid by trading below 21.39, but we prefer stability below 21.08 intraday to strengthen the bearish possibility. Trading below 20.55 stops us from monitoring the Alternative Bat Pattern.
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