It's was only slightly visible, but $19.24 was a line in the sand that silver had to hold in order for bulls to have total control.
what happened next is how bull rally's start (in anything) shorts covering, leaving gaps that should be filled but aren't. This one has real strong strength. Testing the 9:30 am open at 19.394 should provide one more buying opportunity moving toward next level. The problem is that on a short cover this strong, lots of shorts are trying to get out at that price and jumping in front of each other to maybe start an explosive move up.
Levels to watch: I'm already long, but will get longer on a break above 19.718 to 19.758 silver, at which point, 20.028 is a 90% lock. Before trying to get to 19.71 silver will meet some resistance at 19.558.
Also, yesterday two 100,000 share purchases in SLW canada gives further confirmation to mark out a bottom. For those that know my methods, this thing is hitting my prices bang on today so I feel very confident, at least for now.
not sure how I posted to the other topic, but it was obviously a mistake...
meant to write it here:
Silver looks like it struggling but my methods say as long as it stays above $19.24 it will go to $20.81. If it violates 19.24 and closes at least 6 cents below on a 5 min chart,, the bears have regained control.
Watching the dollar for clues and it gap up in such a way that says it's trajectory today iwill eventually be down confirming there is some strength to a bullish sentiment in PM's.
The bears really don't won't to completely give in yet, but the bulls aren't squimish either. Futures volume on either side of the bid and ask is about 40% heavier than on an average day