THIS IS AN UPDATE TO MY PREVIOUS TA'S. AS WE CAN SEE INDICATED IN THE RSI, SILVER GOES THROUGH 32 DAY CONSOLIDATE/GROW PHASES. AS WELL, SILVER HAS BEEN REMARKABLY CORRELATED TO MOON PHASES. USING THIS AS A CATALYST, THE NEXT MOON PHASE IS AUGUST 18TH, FOLLOWING ANOTHER SEPTEMBER 2ND. I BELIEVE THAT SILVER WILL BOTTOM AROUND THE INDICATED WEDGE OVER THE NEXT COUPLE OF WEEKS AND CONTINUE ITS NEXT GROWTH PHASE MOVING INTO SEPTEMBER. IGNORE THE NEGATIVITY IN THE MEDIA ABOUT GOLD AND SILVER AND STICK TO THE LONG TERM FUNDAMENTALS; REMEMBER, NO BIAS. - YF
A really interesting chart. Thanks for posting this. I've positioned myself long over the last couple of days in Silver and can see the $22 area being hit on a move up. I'll likely stop out at the low of $19.49, so the risk/reward ratio here is pretty good.
Nice chart and thanks again.