After making a wave 5 high in April of 2011, silver has corrected back to its wave 4 Decision Point which is the tendency after completing a 5 wave sequence. If this current wave 4 DP holds as support, then the tendency is that the prior trend, which was up, should continue up. Silver looks to be bottoming and should, eventually, begin a new bull market.
Long from $19.05 with buy limits around $17.50 and $15.50
Do your own fundamental analysis.
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Aka "techs" not fundamentals. It's in the chart. I go to bed these days with take profits set and limit orders right beside them to take the trade the other...
Here's where the silver market is now: After 5 quarterly bars without a new high, a downtrend is set up from the high at $49 and the movement down out of the 27-35 range reached its natural target at $18. Also, the downside price projection happened in the first bar, so the fact that the market is just marking time and going sideways is alerting me to a strong...
I have moved a substantial amount of my Forex profits over the past 3 years into silver bullion.
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if you are trading at...
I am looking for a $19.1~ area target to the downside. Small stop for news risk. It has broken out of range to the downside before but quickly recovered. I plan on reversing this position to a long at some point as I believe the November data will be weak and will therefore remove the possibility of a near-term taper.
The horizontal yellow lines are the...
Like gold, silver is holding just above an important level (blue line). When somethings holds just above support without bouncing, it is usually a sign that the support will fail. If silver fails, it will trade down to $19.
