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Silver and S&P 500 facing resistance…Dollar decline going to help them?

by | May 20, 2011 | Kimble Charting

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U.S. Dollar is breaking a short-term support line (see post here).  If that weakness should continue, Silver and the 500 index should have some success at getting above  short-term resistance!

7 Comments

  1. Chris Kimble
    Chris Kimble on 06/01/2011 at 1:40 PM

    Silver…for the second time is hitting its 38% fib retracement level from the 30% decline of late. An unfilled gap comes into play at the 38% level too.

  2. dattatray Purandare
    dattatray Purandare on 05/26/2011 at 10:52 PM

    Where silver is going?It has broken the support

  3. Chris Kimble
    Chris Kimble on 05/25/2011 at 5:04 AM

    Broke above falling resistance and looks to be dealing with fib at this time!

  4. Aleks
    Aleks on 05/23/2011 at 11:06 AM

    Hi Chris
    how is Dollar technicaly looking?
    Thx
    Aleks

  5. Larry
    Larry on 05/20/2011 at 8:55 AM

    Chris,

    I use xrt retail etf as a guide for US economy since it is
    70% of our economy. There is a lot of pressure on it at this time. S&P might follow the xrt etf.

    Larry

  6. belsha
    belsha on 05/20/2011 at 6:07 AM

    Yes, but that “short term resistance” also could be a “kiss of death” (it was support for a long time), no? Interesting day !

  7. Andrew
    Andrew on 05/20/2011 at 5:45 AM

    watching same thing you are!…long SDS and ZSL with tight stops

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