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Re: easy does it /rabbit *PIC*
In Response To: Re: easy does it / Andrew ()

Here is a chart of the double bear Silver ETF:ZSL. Price has been falling of course with the rise in Silver and recently been trying to reverse. Price has not been able to clear and hold above the falling 50ema since Feb 2010 when it spent about a month above it before falling below again. And the falling 20ema has been below the falling 50ema like a railway track since Feb 2010 as well. This needs to change to confirm a reversal in price. Meanwhile the falling 50ema is coming down fast and price is trying to build a base to rally from and reverse this pattern. So the spread between the 20ema short term trend and the 50ema is narrowing quickly. The low on this bear ETF was in late April and is holding up well. Rallying above the 50ema and holding would be positive but clearing 25 price resistance would be confirming a change in trend and would expect a rally to at least the next resistance pt at 30. This would turn the Modified MACD and RSI 21 positive again as well as see the 20ema cross above the 50ema and curl it back up again for the 1st time since Feb 2010. On the short term you don't want to see price break below 16 support or could expect to see a double bottom at 13 again and threaten this postion. Not likely but hey, this is Silver and it wants 'everybody's money' not just the bulls. Silver does not like to share............

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Re: easy does it /rabbit *PIC*