The silver technical analysis is giving us a nice time correction on the shorter term time frame. The VWAP from the most recent highs last Friday was resistance that day and yesterday. Today it has gotten above this level, which has made this average start to rise. This is an area to check and see if it can maintain a level of support. The One day moving average flattened out and is now rising again. Because of this time correction, the charts could very easily have a nice gain to be able to extend its rally. The volume has diminished, which is not a surprise is the final week before Labor day. What also will not be a surprise is a lot more volume to enter into this market as we head into September and the vacation times will start to diminish.
On my market sentiment I have $19.50 on the Silver futures contracts to be the top of the range. Although it is not the high of silver, it is being used as the resistance. The reason for this is because it has been a major resistance level here in the year 2010. Therefore it is an area that may encounter a level of resistance. What kind of level maybe very small. The more often that resistance is tested, then the more likely it is that it will take it out.
Silver to shine on emerging industrial demand
The now ten-year old bull market in precious metals has seen the price of gold move up well beyond it previous historical peak near US$875 reached briefly in January 1980. But silver has still not surpassed its all-time high of $50 an ounce -- and even remains well below its current cyclical high of $21 an ounce reached in 2008...(Commodityonline)
Gold Rallying to $1,500 as Soros's Bubble InflatesInvestors are accumulating enough bullion to fill Switzerland’s vaults twice over as gold’s most- accurate forecasters say the longest rally in at least nine decades has further to go no matter what the economy holds...(Bloomberg)
Silver is set to Shine
The now 10-year old bull market in precious metals has seen the price of gold move up well beyond it previous historical peak near US$875 reached briefly in January 1980. But silver has still not surpassed its all-time high of $50 an ounce – and even remains well below its current cyclical high of $21 an ounce reached in 2008 – leaving silver bulls disappointed but optimistic that huge gains are still ahead with the white metal ultimately reaching and surpassing its 1980 peak price in the years ahead...(Resource Investor)
Silver's Bullish Rise to Continue
Silver could rally further this week on bullish technical indicators, a weaker dollar and investment demand. Last week, silver breached the resistance level of $18.80. This week, the white metal may test the next resistance level of $19.92, which signals the breakout to record highs. The momentum indicator RSI (14) is treading at 0.517, indicating further bullishness. Silver is currently trading above short-term and medium-term EMAs, implying a bullish trend.... (The Street)
Tips for Buying Silver as an Investment
Here are some tips for buying silver as an investment that a buyer can use to help reduce the risk of getting scammed. While the value of silver is not so high that many people try to make counterfeit bars and coins, the possibility certainly exists. More likely, unscrupulous sellers will use vague and confusing language and some sellers will simply make mistakes as to the item's description. The following tips are designed to help buyers avoid these problems....(Associated Content)
Gold and Silver Market Suppression Failures Flash Buy Signal
I am writing this in a 5-part series. The first three parts will document in as much detail as space allows the methods and actors involved in the historic and current price suppression of the gold market. The fourth piece will tell you how to profit from gold, and the fifth from silver. These last two parts are really how to survive it first, and then profit from it. I say this because the gold market is an economic...(Seeking Alpha)