Monday, June 20, 2011

06.20.2011

This range can be shown well here as all the moving averages have moved sideways within' the thirty-three to thirty-nine range the price action is experiencing. I have pretty much let this chart be and let the moving averages calculate themselves out. These include the five, ten, twenty, fifty and one-hundred averages as well as a few VWAPs (Volume weighted average price) that are all in stable condition mode right now. The trend line which was resistance at the fifty dollar high at the end of April will have a higher percentage chance of being taken down, but for this to happen the market needs to get bullish fairly soon as it has thus far made a higher low above the January mark of $26.30. The longer this market stays in this boring tight range, then the bigger the breakout(down) usually tends to be and its closing in on two months of this sideways action currently. At least this has given those people no excuses for not getting into silver because of the market being too fast as well not getting a pullback. Many waited in the spring for one, and for those whom did congratulations as it has come into play with an approximation of four million seconds of time that has come off the clock over the last forty-seven days. That's a lot of time for people to think things through for reasons of getting into silver and/or getting out of currency.


DIRECTION FROM 50 DAY


This indicator I have been looking at for a while to determine entry points. Nothing has changed as far as the analysis is concerned as the direction from the highest point is higher than the lower point and this means sellers still in control. The 18% from the lows is the resistance level that I need to see this level clear out which is pretty much the same as the $39 level that is a massive level. This $39.00 will stay as the key mark unless the market makes significant new lows to buy on strength. The advantage on buying on strength is this allows any of this wild selling to occur first. If the market goes down to $25.00 then this level will move lower with the market lower for an entry point on strength. I would personally rather buy on weakness and that is my personal preference only.



ALL TIME FRAMES







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