Silver and gold are approaching oversold. If this turns out to show support then look for a sharp rebound in the silver over the summer.
as soon as we break into the zone indicated start selling silver short ... we are sitting right on the support line ... we are at the resistance line of the DXY (dollar index) aswell ... the two are highly correlated .. i believe both will be broken in the near term. this is a fast market so move should be quick and clean .. the way i like it :)
Silver has formed a bearish triangle shaped pattern close to the downsloping median line and 20 MA. A breakout to the downside is going to project the price lower (target round 20.50)
The chart tells you why. Same thing in gold: 1267. Gold/silver ratio of 65.1 also matches up technically.
If silver does drop further into the 17-21 area, it will be the buying opportunity for which we have been waiting for years. Silver should ultimately rise to new all-time highs in the 2015-2017 timeframe, and it would never again drop below US$50 thereafter.
Silver traded during the last month in a triangle shaped consolidation pattern. It didn't manage to cross the 20MA. Today break to the downside suggests the downtrend has resumed with target on the main support area. A trade below the 01 March pivot low would be the final confirmation. Buy put option could be traded at this point.
Silver has been moving inside a consolidation pattern since mid Feb. Support and resistance of the pattern tend to converge to form a triangle. Price is supported by the lower parallel line. A break-out from this pattern is going to trigger buy orders. Medium term target objective should be 31.7.
break important sell angle 2008 need to break angle a for bullish wawe,,,
www.moneymakeredge.com www.moneymakeredge.com For more information. Next week, we should know witch direction market looking to go. End of consolidation
Silver is in decline. Friday price action suggests a possible correction to the upside. I expect the price to reach 30 - 30.5 area in the 2nd half of march. Then the selling pressure could restart (sliding parallel and significant Fib area) and it is where I'm planning to short it. Gold has a similar pattern.
www.moneymakeredge.com After fridays buyers fails, Sellers pushing Silver price down. Looking to close monday lower than my bleu trend line and then, let's make some $ :) good Day everyone
This is a 32 Years Silver Chart.... In This Silver Make a high in 1980. and in same Pattern in 2011... at that time resistance... this time shows support again and again ... By This Charts Sell Only Below 25$ with very Small Stop Loss... Over all 2012 Silver Range is 25$ to 37.50$...
If you're playing the silver short outright, it's good R/R. But the pair trade Short Silver, Long Soybean oil. Looks like it has legs. Usually a nice correlation, that was broken up. My thesis is that these two will revert. Pair trades like these can have monster legs.