This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
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...
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
So what is the upside target for silver CR?
ReplyDeleteThere 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
ReplyDelete43.1 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