Kudos to you Cowboy and the other TA guys as well. If $21.86 turns out to be the low, then only missed by a nickel. Frankly, I thought we would hold a little bit higher based primarily on perceived support lines drawn from the recent past. I bought a few June $22 calls to spike near term interest interest.
Thanks Sharpie. I believe that this is the bottom! We might rumble around this range building a base until next Monday (06-02-2014). Not sure nor good with the time frame aspects, but we just might rocket up from here. This should be the beginning of a Large Wave 3 up. Will probably close right at 20.92 though for the day and then up tomorrow. The only other price point would be a 100% retrace. This is possible without breaking the EW rules, but I don't expect it. I think this is the bottom. GLTA!
yes, 21.91 is right on the trend line of the weekly triangle. We should ride this line for a bit here until silver makes a move. Back into 18 handle on silver and we should break this line which would usher in a few more weeks of selling down under 18. Not seeing much buying interest here, so the market still believes gold and silver is heading lower. Not covering my short metals yet