because going short from sub $26 to $20.50 would be a logical hedge to existing physical or fiat winner for more
Its also useful to view charts with a wider perspective. The daily charts are not much use for stackers, only daytraders There is an awful lot of white noise generated by the COMEX on the daily chart. I have been caught out numerous times by COMEX short/long coverings. There is not a human on the planet that can beat those three millisecond algorithm movements. If you are a stacker, or even a position trader, its best to stick to the weekly and monthly charts Weekly and monthly both bearish. Very. Best not to question "why" any movement occurs, but to go with it. Trade the trend, not the logical expectation. Regardless of any candlestick formation, you always need confirmation. I guess in this instance the abandoned baby wasn't really abandoned, just temporarily misplaced in the fruit and veg section of Woolies.
Yeah looking pretty shaky now I have to admit. Still not hopeless, as above the critical $26 level, and the weekly candle just an indecisive one so far. I cant get monthly chart. I'll give up my idea of a meaningful bounce or rally around here if it make a price below 26.50
Thanks for putting it out there that's what this site is all about... sharing information, if you were always right you'd be rich and in the Bahamas not wasting your time on here
well broke through $26.50 so anyone making purchases at this point in time would be brave. Anyone willing to suggest $30 before $20? Enjoy the ride down if it not interrupted by a central bank
With yet another European Summit this weekend, do you not think this may affect the price in a positive way? Or will we see another 'kick the can' result with none or little result at all? If they do come up with some miraculous solution we may be in for a short surprise, but I'm not holding my breath. In the meantime the fiat I've earmarked for PMs this week is staying where it is.... I'll just keep watching with interest.
Yes let's leave the bullish abandoned baby behind (please). The hope for holders that want the price to go up rather than down is that last night was yet another touch and test of 26 and we'll see some improvement soon. Tonight and next week should be interesting. Don't watch too long if a bounce is confirmed.
I don't see what you mean? To me, the depicted flag pattern is a bullish pattern, and broke upwards as expected like a text book example?
must be lead because its sinking fast if i had some fiat i would buy but seems it wont be till next week, blessing in disguise?
The consensus on this and other forums is that silver will be mid to low 20s sometime this year. To me that's a brilliant indication that silver will do the exact opposite, as it always does. Just like the consensus that silver was going beyond $50, to $60+ last year.
To me that is a brilliant indicator that silver is completely random. If people who read up and are interested in silver cannot predict what will happen to any degree of certainty then it is obvious that there are way too many factors involved for anyone to fully grasp them...or it is manipulated! We haven't been talking about silver manipulation for a long time...and that's what they want!
I haven't seen a consensus at any time on silver. There's a division now and there was a division of opinion around the top too. I didn't believe we were in for a major correction after $50 silver, and I had company, but there were always alternate views being expressed. Silver's up in the after market and all it's done so far is test 26
