Even though there is no confirmation break past the $42.00 level on the price action as of yet this chart is giving nice signals that it wants to extend its gains. I loved how both lines recently met each other and since then they have been moving in opposite directions as the direction from the fifty day low is now breaking resistance and showing a nice uptrend pattern of higher highs and higher lows. We have had months to buy at these suppressed prices below $40.00 per ounce and that level is now over. Congrats to those whom did. We have had years to be able to buy silver at suppressed prices below $100/oz and we are still in this phase. Although for now I like any purchase under $75/oz to be a major long term steal we still are in this atmosphere. It is a tremendous advantage to know how currency is created when making investment decision that regard currency. More late Saturday Night
I'LL TRY AND GET SOME CHARTS UP THIS WEEKEND AND THE MAIN ONE MIGHT BE THE DIRECTION FROM THE FIFTY DAY. For weeks I've been waiting for a confirmation break on this level which seems is the case on this methodology. This indicates to me there is a great chance that either $42 or $41 maybe good support this week which would give this the wheels ready not only to have another $50 test, but a chance to make new all time highs for the first time in over three decades. For those who've been stacking, keep it up and for the paper trades the profit taking may start to ensure at 43.50 to 44.00 as it is likely to make a higher high from its previous one of 42.21 that has a nice gain.
In the meantime, I will be talking about this Historical Silver/Gold Link most likely on Saturday and this is a great page with amazing analysis going back to 1981.
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