Tuesday, July 5, 2011

07.05.2011



Even though the silver market today had a massive gain of over four percent, it's still a bounce within' the trend back away from the bottom of this range and on the direction from the fifty still a ways to go to reverse the trend. The trend line is needed to break to confirm a buy signal as well as a break above 18% from the current fifty day low and this is currently a little over thirty-two per ounce. at eighteen percent gain this would take us to the levels around the thirty-eight barrier which is the massive target for this current state. This range has been a long one that was established over only two days on May 11 & 12th. Silver was as high as $39.48 on May 11 and was as low as $32.34 on the May 12. This means that the market has stayed with a 48 hour trading span in around two months. This is not normal market activities and yes there was manipulation on the way up as there is on the way down. The move in May is a reminder of this roller coaster and its not time to take off your seat belts as of yet as the fallout from this sideways consolidation has to play it self out. The longer a market stays sideways like this, then the larger the breakout or breakdown tends to be. This means a fast move either up or down and until the market breaks the highs and lows from those two days I label the market neutral and boring.

1 comment:

  1. اذا تم كسر المقاومة هل نستطيع أن نقول أن الفضة أنهت رحلتها الطويلة بالنزول وبدأت رحلة الصعود ؟

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