nmike

SLV channel cloning update (weekly)

BATS:SLV   ISHARES SILVER TRUST
1307 19 19
SLV  CHANNELING, Cautiously Bullish
Since this idea worked out quite well last time I'm republishing it with the updated clones. It is interesting to note where SLV             last low swing point touched , right on a clone channel boundary. Last week SLV             finished with a gap up big green candle breaking the reference channel boundary and a close above the 20 ma. Current upside momentum favors the blue arrow channel boundary as the near term target. Fib. retracements are a great addition to cloning.
22.04.2014 today broken
+1 Reply
nmike MOD mucahit06
....at Key long term support level
snapshot
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......significant volume & price exhaustion EFI bar...... when you see this on monthly frames it usually signifies a major top
snapshot
+1 Reply
hi nmike!!! still working ? do you bealive that trend?
Reply
nmike MOD mucahit06
updated Clones
snapshot
+2 Reply
if silver will arrive 8 dollar, shall u put one more step more below of chart ? :))
Reply
nmike MOD mucahit06
yes, keep adding more Clones
Reply
I think u dont need keep adding any more clones. chart still working. nice
Reply
nmike MOD mucahit06
....could be bottom at least short term. There was a candle just below current Clone however it did remain above key support
snapshot
Reply
nmike MOD mucahit06
still......long term bearish
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