That's why I was nervous regarding GOLD's COT... Silver's blees rating was at 0 last week Tuesday... These happenings are important for gold also. Silver is late in its daily cycle and moving down into its DCL :
A. It might be producing a Bollinger band crash signal at 14.3 testing back the breakout and then turning up and making a higher high B. or already printed its DCL on Friday tagging the 50 and 100 EMA and starts to move higher....
I think the rising dollar helped a lot in this move...
Short term: next week, especially the beginning of next week price might fall more but I wouldn't recommend it to short. I dont think silver would come below 13.50... Medium term : Long Long term : Long
I posted silver because it's important for gold also . Personally I'm not trading silver now.
Comments
DownUnder
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Looking good, have to watch carefully now for next break and pivots :)
ShirokiHeishi
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I agree with your synopsis, but see 13.13 as a medium/short term stopping point. Although a move to 13.50 would produce significant gains. Good trading!