Analysis for October 8th, 2012
The bears are trying to break the daily Super Trend’s line. If they are able to keep the price below the 3/8
level, the pair will continue moving downwards. In case of a local correction, I’ll open one more sell order.
At the H1 chart we can see that the price left an “overbought zone”, the Super Trends’ lines formed “bearish cross”. In the near term, the pair is expected to continue moving downwards and the 0/8
level is unlikely to stop the sellers.
After rebounding from the H4 Super Trend’s line, the price started moving downwards. The pair is moving below the 3/8
level, so we can expect it to continue falling down towards the 0/8
one, which later may become a starting point of a new correction.
The pair is moving in the upper part of the H1 chart, the bears are supported by the Super Trends’ lines. Most likely, the price will continue falling down in the nearest future. The target for the next several hours is the 4/8
Silver is being corrected once again, the bulls are supported by the daily Super Trend’s line. If the price rebounds from the line, the instrument will start growing up again. The target remains at the +2/8
After rebounding from the 6/8
level, the bears were stopped by the 2/8
one. There is a possibility that the instrument may rebound from this level and start growing up again. However, first of all the price has to break the super Trends’ lines backwards.
RoboForex Analytical Department