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Saturday, August 18, 2012

SLV : Is this the beginning or the end ?

SLV on the longer term weekly chart is still under the downward sloping trend line and under the weekly triple moving average band.

On daily chart, there seems to appear the bullish "cup and handle" pattern.

Stochs gradient is steeper than the price action...
Seems to suggest, correct has taken place in a very controlled and mild manner....
Nevertheless a correction is taking place...
Before the downward trend continues....

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