Silver's in its 8th month of correction now
- Thread starter finicky
- Start date
malachii said:
I can't annotate on a free chart, if that's what you mean?
The previous price collapses in this correction were in May (5 deep down days) and September (3 deep down days). Countable in the second smaller candle chart. So if this one pulls up sooner, as I suspect it will, that would be a positive sign imo. Next few days to know.
Surely you can see higher levels in the MACD and RSI reflecting lower levels in the price Sept/Oct to December in the first chart?
Another point it occurs to me to add is that the volume is not yet spiking to a level anything like the initial days of the May and Sept plunges.
MACD and RSI - agree they are higher than Sept/Oct levels but are still tracking downwards and as far as I can tell are not turning at this stage. Volume at this time of year is notoriously unreliable due to Christmas break. I haven't found counting number of down days as reliable enough for my type of trading as you can get rapid downs or slow playing downs - both expensive and in my experience only - hard to use as reliable indicators.
malachii
malachii
I'm not investing in charts... I'm not even investing in silvers past.. i'm investing in silvers future. I cannot see on this chart QE3, European meltdown, War, US civil war, Bank bailouts/bankruptcy... its the things that are not on the chart that makes me invest in silvermalachii said:I'm sorry - but I can't see anything in these charts showing a potential turn around. Can you hightlight it for us older guys that are struggling with our eyesight?
malachii
thatguy said:I'm not investing in charts... I'm not even investing in silvers past.. i'm investing in silvers future. I cannot see on this chart QE3, European meltdown, War, US civil war, Bank bailouts/bankruptcy... its the things that are not on the chart that makes me invest in silvermalachii said:I'm sorry - but I can't see anything in these charts showing a potential turn around. Can you hightlight it for us older guys that are struggling with our eyesight?
malachii
I use charts to predict short term movements and macro economic factors such as QE to predict long term trend.
Charts are useful tools but there are limits and knowing those limits is important.
My charting skill sucks balls though but it did help me when I sold a sizable chunk at $41 (In hindsight I could've been wrong and silver went through $50)
thatguy said:
Same here, but charts are very handy for giving you the conviction for timing buying. There's a saying "Chart's don't lie". Of course the interpreters of charts can lie, or just be wrong, but at least the chart itself is there and contemplatable.
damien192x
New Member
I see a lot of fear on here right now
I feel a bit jittery too, but I dont need the $$ for about 4 years.
If I had 1000 shares, I'd have bit the panic sell trigger by now
But selling silvers more effort, I have to list it, go to the dealer, blah blah..... cant be bothered.
I like that it's liquid but not liquid enough for me to panic sell.
I feel a bit jittery too, but I dont need the $$ for about 4 years.
If I had 1000 shares, I'd have bit the panic sell trigger by now
But selling silvers more effort, I have to list it, go to the dealer, blah blah..... cant be bothered.
I like that it's liquid but not liquid enough for me to panic sell.
reflection
New Member
http://finance.yahoo.com/q/bc?s=JJC&t=5y&l=on&z=l&q=l&c=slv
Assuming copper prices reflect industrial demand for metals, I assume the slump in silver prices is due to a slump in industry.
It seems an industry slow down is more powerful than investment demand.
This seems to justify my perspective:
http://www.silverinstitute.org/site/supply-demand/silver-demand/
Assuming copper prices reflect industrial demand for metals, I assume the slump in silver prices is due to a slump in industry.
It seems an industry slow down is more powerful than investment demand.
This seems to justify my perspective:
http://www.silverinstitute.org/site/supply-demand/silver-demand/