Re: Silverado Chart "Golden Cross" in the Making $$ Ka-Ching Ka-Ching $$
posted on
Sep 29, 2010 11:45AM
Please note below price chart that the MACD Indicator has reached the convergance/inflection point this morning on the daily Silverado chart and is about to turn bullish, if the price can close today at these current new levels this may bring in new techinical momentium players over the next few days to join the party? I think they are just beginning to show up for the party?(JMHO) (please see defintion below for the MACD)
Current Silverado Daily Chart- http://www.freeimagehosting.net/uploads/65b92ab8e8.jpg
The longs are now in control of painting the chart (JMHO)
$$ Ka-Ching Ka-Ching $$
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Definition for MACD Moving Average Convergence
Crossovers -When the MACD rises above the signal line, the indicator gives a bullish signal, which suggests that the price of the asset is likely to experience upward momentum. Many traders wait for a confirmed cross above the signal line before entering into a position to avoid getting getting "faked out" or entering into a position too early, as shown by the first arrow.