Silver a commodity in rather high demand due to more and more people becoming aware of needing a save haven asset such as Silver.
So Why is Silver on the Rise?
Technical terms : It's in a huge descending triangle starting 4-5 years ago. Descending Triangles are good for timing entries and finding the best exits .
Fundmental terms: Demand Increase, Comex having supply issues and the market makers at the comex have recently moved positions from "Net Short" to "Net Long".
What levels to look out for?
You should look out for in the short term 13.50 -13.00 (IF THIS IS BROKEN EXPECT TO SEE FURTHER DOWNSIDE)
15.805 If we see this level broken we will see a influx of buyers sending the price to 21+
In the longer term we are targeting around $50 in around 2 years.
Levels to focus on until 2017
8.335
13.340
15.805
21.965
24.825
Remember to Follow for many more charts and don't forget to comment any ideas you have to share!
Happy New Year
So Why is Silver on the Rise?
Technical terms : It's in a huge descending triangle starting 4-5 years ago. Descending Triangles are good for timing entries and finding the best exits .
Fundmental terms: Demand Increase, Comex having supply issues and the market makers at the comex have recently moved positions from "Net Short" to "Net Long".
What levels to look out for?
You should look out for in the short term 13.50 -13.00 (IF THIS IS BROKEN EXPECT TO SEE FURTHER DOWNSIDE)
15.805 If we see this level broken we will see a influx of buyers sending the price to 21+
In the longer term we are targeting around $50 in around 2 years.
Levels to focus on until 2017
8.335
13.340
15.805
21.965
24.825
Remember to Follow for many more charts and don't forget to comment any ideas you have to share!
Happy New Year