Analysis for December 26th, 2012
After Christmas the market was opened with a gap up and the bulls found themselves inside an “overbought zone” right away. We can’t exclude a possibility that the price may continue growing up in the nearest future. The target is at the +2/8 level.
At the H1 chart the pair is also moving above the 8/8 level; the bulls are supported by the Super Trends’ lines. Most likely, the price will continue moving upwards in the nearest future. After the market breaks the +2/8 level, the lines at the chart will be redrawn.
After rebounding from the H4 Super Trend’s line several times, the price started moving downwards. We can’t exclude a possibility that the pair may reach the 0/8 level within the next several days. Later this level may become a starting point of a new correction.
At the H1 chart the market is moving inside an “oversold zone” and may continue falling down towards the -2/8 level in the nearest future. After the market breaks this level, the lines at the chart will be redrawn
Silver is still consolidating; the bears are supported by the H4 Super Trend’s line. The price is already moving below the 3/8 level, so we can expect it to continue falling down towards the 0/8 one.
The lines at the H4 and the H1 charts are completely the same. We can’t exclude a possibility that the price may break a local minimum within the next several hours. The main target is at the 0/8 level.
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