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Silver Wheaton Corp. Message Board

  • chemaes44 chemaes44 Jul 3, 2013 9:59 AM Flag

    Tea Leaves - Setups

    Prior to your holiday, setup's are notoriously unreliable due to thin volume.

    However here's what my models say:

    Trade A (1 part)

    If by 10 am the price finishes under 19.672, it will likely not surpass that price for the next 4 hrs. So, short 19.672 with no target downside given right now but a stop at 19.732 to protect the position.

    Trade B (2 parts)
    If 19.741 should be pushed above even by 1/10 of a penny, get long 19.741, stopping out at 19.681. I have no topside target. ride it.

    If the price should push below 19.485, get short 19.485, stopping out 19.545, with no downside target right now.
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    In the next week or so, the setup says silver will achieve a price of 20.67 which has significant implications. Why? Moving above 20.216 breaks the back of the downtrend started mid April. However, failure to break that 20.216 suggests $17.308 is downside target and because of how big a target it is, it would be a capitulation point where a significant reversal would happen.

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