Sunbrookplace. Depends on price clearing 23.09, if it does it indicates 5 wave up starting from 21.68. The current waves up from 21.68 are minor waves and don't tell much either way until price breaks 23.09 or 21.68. Often wave ones of a higher wave are capped by the previous high and that high is taken out on the third wave up, this allows one to project higher highs from the previous high upward. The current minor I 262 fib projects a wave to 22.97 as a likely Wave I if we go higher. The price projections from 22.97 are 23.76 , 24.25 and 25.05. . 25.30 shows up on my Gann charts . . 25.48 = Sq 9 120 degrees, also 25.48 is support & resistance back about Sept 9th and 11th, 2013. 25.00 to 25.50 is the top of the zone! If we break below 21.68 a larger scale wave one likely would be support at 21.32. Until we get more price action all is just likely fib extensions. If we run up the i ii nature of the minor waves could lead to a gap up of 35 to 50 cents, I think we have seen a dollar gap in this stock in the past, so gaps often depends on what happens in the silver futures. But downside, 21.32 is not very far for longer term traders and 25.00 is very good upside. Someone predicted 25.00 a few days back, good call! But when is important, good chance its next week. High into the 28th or 29th, would allow down into the new moon, 30th or 31st. 25.48 dn to 21.32 in two days would be a killer trade, I'll be on the lookout for it !! After 21.32 up to 27.00 / 28.00 in two weeks will be great as well, as time goes by, the daily range may well get larger ( 5 to 8% ) and of course the weekly range as well. This will work hard on the nerves of the buy and hold people on the down days, but silver has always had wild swings. A dream for traders if we can find the rhythm of the market. Work your fib tool! if you see other relationships please post them.
nice to see PM as a place of safety again portfolio insurance is required when the market is/was way over extended and metals crazy cheap interesting to see what next week brings but protection is necessary
not a bad call. I would unload those or some if we trade anywhere near 20.20 on the day. If you have 100 of them you can short a silver future against and that will take care of you on the downside and if silver rallies your improving delta will more than carry the load on the upside