Thursday, June 30, 2011
Two losing months in a row! So be it, that happens and the red candles for May and June are not that large on this logarithmic chart and more standard pullbacks. The market is still rising above the front weighted eighteen period average of highs, lows and closes. The key level to start this month of is $32.85 as this is the level for the eighteen period average of highs. Because the market is above the line and has not been touched since last summers breakout the market is bullish and no need (yet) to be cautious. More that it could become cautious if the selling brings us below the level stated below thirty-three and if you are looking for buy signals within' the current uptrend then you would need to see the weekly chart straighten out first or let the market move towards cautiously bullish or below thirty-two and even towards thirty flat. Fibonacci is Twenty-Five and that is the "Must Hold" for silver to remain bullish.
Throwing all this aside, the joy people should be having for having more time to prepare for what is becoming 100% likely to occur in the destruction of fiat currency. These levels will not remain here for that long and although the lower support numbers going down to as low as $19.00 on the quarterly chart are thus moves within' the primary trend. The trend is higher and because the likelihood that fiat money will never become strong intrinsically as well as humans confidence in the dollar does not look good in the future. I don't think it should be debated if paying fiat dollars for silver at today's price levels to be a good or poor decision. I say this because anything that is real is what should be sought after. Whether there are better investments over silver for one person is definitely and should be up for debate. In some cases real estate or industrial equipment might be what is needed or stocking up on bic pens because of a possible pen shortage or massive spike in price. There are many options. I do think however, it is good to have a surplus of pens as they are good emergency items for writing stuff done.