Silver(XAGUSD) continue to decline since 2012.10.01′s high. Today broke below the day i wrote Gold Decline to 1706$ low ready.
Indicators :
- RSI Period 14 with 30 level as oversold and 70 level as overbought.
- The 4X1, 2X1, 1X1, 1X2 and 1X4 Gann Angels.
- Gann’s Price&Timing Study.
- Simple Moving Average 50 Period (Blue), 100 Period (Red) and 200 Period (Green) on the chart.
H4 chart by the price&timing, moving below 2×1 angel’s Gann it is strong bearish direction. 50SMA crosses below 200SMA ready, RSI indicate in the bearish mode as well.
The previous price projection indicate target at 31.46$ and the price&timing have support at 30$ level.
