Silver's 2 Market Cycles: Vital support & resistance lines
Human emotions are represented as candlesticks or lines on charts. Human emotions haven't evolved enough to not make these candlesticks and lines relevant today.
I realize that most silver fans don't believe in technical analysis (TA) and couldn't give a monkeys about lines, but maybe if you open yourself up to this side of things, you may be pleasantly surprised; I know I was when I first started exploring TA as a huge doubter.
What's new in this latest long term silver chart update?
+ Found some fascinating long term lines of resistance turned support, hopefully it is quite easy to see how they have shown this.
+ The coloured circles are an approx. estimated comparison to where we are in the market cycle.
+ The RSI is still not in oversold (under 30) territory, therefore the first part of the buy signal hasn't been indicated.
Personal Opinions
+ I love and own silver coins; they're beautiful, but I also believe in TA and because of this believe silver will go lower before starting the next bull run and market cycle.
+ This is all just my opinion of course; make of the chart what you will and of course it is NOT financial advice.
Thanks for viewing. Please feel free to comment or start a discussion below. Cheers.
I realize that most silver fans don't believe in technical analysis (TA) and couldn't give a monkeys about lines, but maybe if you open yourself up to this side of things, you may be pleasantly surprised; I know I was when I first started exploring TA as a huge doubter.
What's new in this latest long term silver chart update?
+ Found some fascinating long term lines of resistance turned support, hopefully it is quite easy to see how they have shown this.
+ The coloured circles are an approx. estimated comparison to where we are in the market cycle.
+ The RSI is still not in oversold (under 30) territory, therefore the first part of the buy signal hasn't been indicated.
Personal Opinions
+ I love and own silver coins; they're beautiful, but I also believe in TA and because of this believe silver will go lower before starting the next bull run and market cycle.
+ This is all just my opinion of course; make of the chart what you will and of course it is NOT financial advice.
Thanks for viewing. Please feel free to comment or start a discussion below. Cheers.
Comment:
Missed the biggest line of them all, added now. Can you spot it?
