Monday, June 7, 2010

Silver: Is anyone telling me what the f$%# is happening here????

Ok guys...silver is currently in a downtrending I just won't analise this chart...I refuse to do so!!!

I will give a prize to anyone here disclosing what in the world silver is doing right now. I just gave up trying to understand. Hopefully, my follower will kick silver's ass!

Trade safely,

Friday, June 4, 2010

Silver is breaking


Take a look at the SLV chart and check how it's showing some weakness:

My follower is a little bit stucked, because SLV is in a sideways mood. I'm seeing some kind of triangle and I haven't disclosed yet if it is a bullish or bearish one. I'm kind of confused with SLV's action.

After reaching new yearly highs at 19.44, SLV dropped to 17.05 in only a matter of 6 trading days! Then it went to the 18.35 level and right now it seems to be still correcting.

I'm watching very closely the 17.05 level as a support for the correction, but if that level gots broken, one may see SLV testing the 15.95 value (A=19.44-17.05=2.39; A=C=18.35-2.39=15.95).

Appart from the prices, I'm watching for the 10/11 of June from here as a target period for the end of this correction (if it really is a correction!).

Technically, all the indicators I follow are messed up. RSI, MACD and stochastics are all in sell mode, but almost oversold.

Trade safely,