tradingview.com/v/piWRa5r8/ 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.
Comments
QuantitativeExhaustion
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I'd rather see $15 SLV low early next year.
Proxy
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$15 SLV would make a great Christmas present!
QuantitativeExhaustion
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Yeah, but we may see 24-25 near term before we see sub 20's
osci
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JR what could be the reason for 24-25 in silver near term again? i can sense no buying pressure from the speculators or hedgefonds and with the break through TLs the gas is empty. or do think that there will be more QE?
QuantitativeExhaustion
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Double bottom pattern. Like where we are here.
StealthTrader
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Near support watching closely here
nmike
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@StealthTrader....yes,let's see what happens here...it din't reach the blue arrow top but it did hit rsistance
mucahit06
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22.04.2014 today broken
nmike
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....at Key long term support level
nmike
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......significant volume & price exhaustion EFI bar...... when you see this on monthly frames it usually signifies a major top