I'm fairly confident the minor 4th wave up is now complete. Looking for the decent drop in silver to continue from here. See how we go
Sticking my neck out to say that we're right now in a flag continuation formation... rebounding back up soon
4th wave ? did I miss that ??? Perhaps it happened when I was not looking ? I agree with Retarded Monkey - short term volitility related to manipulation, European crisis - then longer term - up up and away in my silver balloon !!! Any doubts - then buy Euro's or Italian bonds or Greek bonds or ........any other paper
EVERYTHING is falling - DAX down 6% - US futures down hard Silver would be worse if not for the aussie dollar falling as well !
And this will be just the beginning, its all about sentiment now, wait till the problems are really seen ..
This might be why too: http://www.bloomberg.com/news/2011-...s-lyxor-have-record-outflows-amid-crisis.html Ironic people are 'running to physical' .... "paper stocks". :lol: New internet meme? I heard you like paper derivatives of your paper derivatives so I papered over your paper with some paper.
It's even more ironic than that - the first place the hot money runs to is the 'safe haven' of the US dollar and US govt bonds - US dollar is up.
The typical thought process of someone holding an investment depreciating in value. "It will go higher later... it has to".
Yup that's why fundamentals is as important as technicals. It gives u the conviction that you have bought value. I think tonight the key support to look at will be $33.00 on the XAG/USD, and see whether the daily closes above or under it.
Ahhh the clownfish coin talk (again, lol). There are going to be some very disheartened silver investors shortly.
The price action so far indicates the bulls are denying the bears Piercing line candlestick formation developed on the hourly chart, a reliable bullish reversal signal if the next hourly candle closes higher... let's see how this goes.
