Probably a short covering rally but who knows If you find out who was behind the big smackdown you might have a better idea of what is going on
NOTE: Looking at the 4 hours , DAILY or WEEKLY charts VOLUMES(15th and 16th of April) sell off and massibe volumes ...... TODAY's volume is "miniscule".. nonetheless it's significant IMHO.... no reason to jump in yet IMHO but, to take note and watch it closely.... Amazing run ! Very positive The biggest single-day jump in 15 months! Could it be on the back of Barrick Gold announcement? Pascua Lama was supposed to bring 700,000-800,000 oz of gold and 35 million oz of silver PER YEAR! Barrick ponders suspending Pascua Lama Project permanently Barrick Gold is considering suspending the Pascua Lama project or developing a smaller pit on the Argentinean side of the project, among other options, Barrick officials announced Wednesday. "At Pascua Lama, we are working to address the environmental and other regulatory requirements on the Chilean side of the project," said Barrick CEO Jamie Sokalsky. "Concurrently, we are taking hard look at evaluating all alternatives in light of uncertainties associated with the suspension of construction in Chile As a result of the court order, Barrick suspended construction activities in Chile, including work on the primary crusher and the Chilean side of the tunnel that moves ore from Chile to Argentina. http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=187605&sn=Detail All speculation here at the moment but, if we do see more volumes and some "metal data" tonight...it could be a turning point... cheers TRADER10
bingo... unless you have a bullish bent then wait to buy until it is over 25.60 (pref over $26.50)... really hard concept to wait to buy something at a more expensive price Of course as time goes on that target diminishes
Your assuming that silver is dropping in a parabolic fashion which is never going to hold true because : - I chucked those points into a calculator and got this quadratic equation = -0.17x + 0.3x + 34 = y After chucking those values into a calculator we get silver will be 0 in dec this year.
I'll wait till Dec then. Maybe I can build a silver plated house to take advantage of the anti bacterial property
As usual before any major news the PMs have gone catatonic. FWIW I think dovish announcement followed by a pop and then a smack down http://www.tfmetalsreport.com/blog/4682/timmy-tuesday