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Silver Wheaton Corp. Message Board

  • chemaes44 chemaes44 Nov 14, 2013 8:12 AM Flag

    Three signals last night turned silver bullish

    This is from a day trade perspective.

    The entry point that provides the most certainty is hitting $21.019 Dec silver. Hitting this price indicates bulls have taken over.

    Another way to play it is on the hourly with an inverted head and shoulders, with the right shoulder being completed at between now and 11 am. This is trickier to do not something I would do. I'll be using 3 and 5 min data close to open to figure out what I'm going to do.

    Can silver and gold catch a break?

    At this point the greatest risk after two years of falling is for a move to the upside. However, one still has to keep in mind there's about $1.00 left for exhaustion selling to completely have run it's course.

    Perspective is all one can ask for. The wall street crowd are singing the demise of gold and silver after their fall. When I started watching gold at about $250, it went up to $1900, so $1650 gain. The math says it has retraced 22% to date.

    Similarly I bought my first silver bar around $5 to $7, it went to $50, for a $43 dollar gain or 46% retrace to date.

    Those retrace percentages fix perfectly the 2:1 to 2.5:1 magnitude moves that silver has to gold. It is hard to remain positive though when you see all that money disappear from your physical bars. insurance is insurance.

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