Silver broke below 18.22, last 17.81, low 17.78. Proves the retrace from 49.82 isn't finished. I do expect one more retrace up before a run down in the fall to finish the retrace. The low will surprise many , but, not to $2.00.
Reposted your post at the silvertrading group. appreciate your insight. Is this what you had in mine? Mardermj seems to think gold and silver will be "Taken Down" next week by the FOMC language, I guess the threat of higher rates will strengthen the dollar rapidly. If this plays out the retrace and the run down to 17.40 may be very rapid. Expecting some good trades ahead
Expecting a retrace into the fall to about 25.40 after this Fridays low . .. Charts at the Yahoo Group silvertrading . . . Free site, need someone to do point & figure charting, also Candlestick interpretations would be a help, but all serious folks trading silver related stocks or futures are welcome.
Last post on silvertrading . . . . Updated the 90 day chart . . . plan to sell at about 24.10 / 24.16, reload short at about 24.50 and sell tomorrow near 23.72
Guys, if you trade, consider the Yahoo Group silvertrading, link in some of my older post, most of the time yahoo won't even accept yahoo links here. At the group we can post charts news and links etc
Jeff the run up 20.03 to 27.66 was a strong move, Sometimes the retrace after a strong move is shallow. Price is nearing 5 waves down, a place to sell shorts, if you are short. The 5 waves down could just be I of C and we have a lot of downside left, but still a place to step aside and watch for a while. The silver retrace seems done . . .hourly rsi is down to 21 and was 18 a bit earlier today. I will be extending the fibs below the low today and seeing if it makes sense to go lower, likely could be the case, we will see.