Follow up is the same, didn't expect such a pull back but not the end of the world. US$31-US$35 is still the range so still in that, expect a turn around tonight, if we were to break down below US$31 then next stop is US$26-US$27 however considering the amount the miners are suffering I think this is unlikely. A resistance point of US$31 is more likely and perhaps will be the new floor, still think we will see a upswing before we see out 2012, not so sure we will break the magical US$35 mark by the end of this year but we will see. Looking like late January to break the US$35 mark atm then we well see a massive upswing towards US$40. US$60-US$70 is the guesstimated highs for 2013 with average consolidation of US$50, prepare for the worst and hope for the best and be in it for the long haul and you will be rewarded.
Given your predictions have been some of the better ones I have seen posted in the past, this gets me a little excited.
tozak your one of the reasons i have invested so much in silver versus my low interest bank account. i am in long term and see your chart making sense if your wrong i am coming to get you (jks)
If your gonna buy wait till boxing day IMHO or even better yet new years day... this stinks of chart painting
Broken down now so I think there is a good chance we will see US$26-US$27 bottom unless something major comes out to change the direction. Think it will be a sudden bottom, get ready to load up if this is the case, didn't think you would get this chance again but hey for some, Merry Christmas. Might be some shortages develop out of this especially when the refiners and mints are closing down for the holidays, a lot of miners are struggling at these prices and suspect we will go deep into backwardation when we pull back this time. This is not a natural place for Silver to be trading in right now, should be around US$34.50+ atm in my opinion purely looking at the production cost / supply / demand.
