Silver Looking More Constructive Again

Silver Looking More Constructive Again

We're playing this very carefully, but Silver did now construct a fairly solid bottom.  As of this morning it is moving up to the $35.80 mark again, which has served as resistance on a daily closing basis for the past nine trading days.  A move above...
Friday Afternoon Charting Fun: Gold

Friday Afternoon Charting Fun: Gold

A little perspective on the move in gold should go a long way.   The inverse head and shoulder pattern that developed from November to March hit it's ultimate target almost to the dime near $153 (on the GLD).     After the recent 6.5% correction the...
Silver (SLV) Coming Into Support Zone

Silver (SLV) Coming Into Support Zone

Silver's real parabolic move started at the end of January.  Looking at the below chart I note that the area between $37 and $38 serves as a) the 50% retracement from the low to the high of this move and b) where the 50 day simple moving average comes in....
We Are Short Silver Again, For A Trade

We Are Short Silver Again, For A Trade

After scaling out of the short SLV last week for a scratch trade, today we re-entered on the short side.  See the analysis from earlier today here: http://steadytrader.wpengine.com/a-look-at-silver-after-last-nights-crash/ After SLV gapped down this morning...
Watch The Close In Silver Today, Important

Watch The Close In Silver Today, Important

After a huge spike in the futures overnight…they were up as much as 8ish%…it almost touched the psychcologically important $50 area ($49.80) to be exact.  That was the absolute high however so far today and for the time being at least it looks like...