Monday, August 16, 2010

August 16, 2010

Silver is up today and managed to make it to the fibonacci level of $18.4625 on the Silver Comex that I reported on Friday. The downtrend line you can see on the photo has been taken out and now this means we are moving higher up within' this range. On the weekend video I was mentioning how we are in a symmetrical triangle over the last three months from the early top in May and the early bottom a week following its top. As we move forward towards the upside then we may encounter some areas were resistance shall come up strong. This range does have to break to one side or the other and generally the longer you are in the range, the bigger the explosion. Its been over three months now and thus its been long enough to give probability odds to have a nice explosion on the breakout of this range, whenever it may take place. There is a poll on the right hand side of this page which is asking where the range will break out. Thank you for all whom vote on this poll.


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