Wednesday, April 20, 2011

SLV Chart Request

SLV is looking overbought, maybe time for a correction here.

 SLV daily, note the doji thus far today which indicates a loss of momentum.

 The 1 min  doesn't seem to suggest much, which can often be a sign that there's some distribution going on if confirmed in longer charts.

 Like this 5 min chart which is leading negative

 This 15 min chart which is relative negative

However, there doesn't seem to be any real risk showing up to the viability of more upside after a correction.

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