Tuesday, January 11, 2011

01.11.2011

FROM FinViz. Chart link is on the right side banner. Resistance on many occasions earlier has now beens support twice thus far with the trend line holding.















SILVER has been consolidating this level around the $28-$30 range very well as it is correcting this market through time. The chart above of the price memory shows us that we have spent more time around the $29 level than any other number during this bull market that started back at the end of August. Just like there is no such thing as "UP TOO MUCH" or "DOWN TOO MUCH" there is also no such thing as "CONSOLIDATING TOO LONG". Of course it will not stay in this range forever, but generally speaking the longer you stay in a sideways bound market then the longer the breakout/down will usually be in intensity/velocity. A big example of this was the long range it had for almost a year within' the $16 and $19 level and it corrected through time for a long time and then it had a big breakout.

Currently I am working on a new project that I hope to have completed this month and because of this I will be keeping the updates as basic as I can, but will try to get something out on the blog every business trading day. Thanks for your support

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