Gonna call last night the bottom now, was a bit of a smack down for the 27th but not as severe as I thought. I can't see it getting to the US$26-$27 range anymore as I think the time has run out for the downtrend. Some nice little up moves now are coming to see out the month, US$30+ early April is still my call, lets see how it plays out.
Based on my recent acquisitions of more physical metal I would say I'm betting on this move. Are you thinking something different? Care to lay out your expectation for Silver over the next 4 weeks? I'm not being smart, I would genuinely like to know what price levels others are expecting over the next 4 weeks (It's all guess work but time will tell)
26.50 US or less, may happen as soon as 5th April - 12 April. It goes against the grain but that's my opinion. I also expect the gsr to increase in the short term before silver pings back to close up the gsr to around 30 / 1 in the next 2-3 years.
Tozak, just my humble thoughts on this from recent trade. On the bullish side....... yesterday's intraday reversal was decent and suggests upside as a higher probability than down with that move from a technical basis. Only nag I have is that volume on SLV wasn't huge. Solid but not overwhelming to make me think we have a short term bottom done with. We were short term oversold for sure. Got into a lovely .78 retrace (spot) and held. Bearish side (personal view of market)... near a top in general equity market( if not already in) and when that sells off for a correction, having a hard time seeing why silver won't get caught in it. Dollar is strong (Europe)and looks like it will go higher after consolidation. They are competing currencies that usually trade inverse, again silver should come under pressure. This holiday weekend just shouts something nasty is on the cards for the conspiracy bit in me! Europe continues to burn and the masses still don't get the whole precious metals protect yourself thing. Finally bigger TA time frame on silver is very bearish it would mean a failed pattern IMO for us to get much of a rise and that means odds are against. We may get to the daily 200 DMA on a bounce but this is not looking like the much wanted proper reversal for me when I look at everything non silver/gold. More waiting and consolidation and forum frustration 4 week time frame is still nagging me to be negative and I think the 200 DMA on the weekly is where we eventually head but could be way off!
http://www.youtube.com/watch?v=ykX8KA5dNNM @ 2.40 First Australian to win stand up class at Mark Hahn 300. Want to take risks? Go racing in a desert on a Jet Ski LOL. Silver is for Puppy Dogs hahah
well that news report was very enlightening, the us dollar "man made" is backed by the us government "man made" which is backed by the fed (they try and convince everyone they are men) "man made" and gold is not backed by anything. seems legit
Well this is looking not far off being right for the first part. 'Key dates' might'ntve paid off, but with the price down to ~$27 that's close enough. Now for the second part
I personally think that the elite dont currently have as much fiat to buy any metals else they would have by now. Maybe they did all their doe on all those obsolete underground bases they were going to run to. Lol
You probably will see an even better buying opportunity By 12th April or before....that's not advice....buy when you think its right for you. Good Luck
Boink boink. Bounce. Up. Imho that what chart are for up and down. Or maybe dive down further. :lol: The next few days or a week or two will tell.
