When silver dropped from $50 it hovered around the mid thirties for a couple of months ... then it went to $40 and hovered around the low forties for a couple of months ... after the latest drop it has hovered around the low thirties for a couple of months now ... are we going to get another move now ? .. if so I am guessing in the next week.
So in the last two weeks I have seen charting analysis of a dead cat bounce, flag, death cross and a head and shoulders.
Nope - just me, the one and only Blacksheep My artistic talents are largely influenced by Mr Squiggle who'm I hope to meet when silver goes to Da Moon (hopefully sometime before I head off to the great pasture in the sky) :lol:
I am playing the monkey game with Silver, bought and sold three times between 31 and 34.. Instead of waiting that a miracle happenz. Price might correct even further, lets say a $27 is very realistic, considering disappointing markets, EU summit etc.. however, I bought again at 32 again today. Just a small amount, keep buying! then the hell with it on April..
I use technical analysis for some fx trading on the side, and while useful it is never a sure thing. Works best with large markets and does not work with smaller illiquid markets at all. Now the cynic in myself, looks at that and thinks that that is way too textbook head and shoulders. It is almost as if someone painted it there for to make everyone think it will go down....... Who knows? Trade on technicals, invest on fundamentals.
Ok so it was a bit over 2 weeks, but I think the drop to 26 was the next move..... I guess we will see a small rise then a triple bottom to 26.....and rising in feb If we hit 26 and it starts rising again ill be a buyer ...