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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj

Saturday 20 August 2011

SLV

well I was not expecting this as PM's look completely overdone and I was thinking a correction in gold particularly but SLV has gapped up,we have the classic 1,2,3 low and ema's are bullish...



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3 comments:

  1. The Hook21 August 2011 at 19:12

    So what is the upside target for silver CR?

    ReplyDelete
  2. Chartrambler22 August 2011 at 18:57

    There is an unfilled gap near the previous high that might be a target.I confess I am uneasy with PM's at these levels,would run a tight stop

    ReplyDelete
  3. Chartrambler23 August 2011 at 12:44

    43.1 is the fib retracement on the futures contract,I believe.45 is natural Gann resistance level.so this may just be a C wave that fails around 43-45.00.Its quite a tough call ! I am leaning more toward Bernanke disappointing on Friday and PM correction.See my gold death zone chart.Gann360 has interesting cycles ending this week in gold too

    ReplyDelete

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