Friday, May 27, 2011

Victory!

I am going to declare victory here as the raid on Silver which began in the wee hours of the morning (est time) took silver down almost 2 dollars was successfully defended above 36.5. Hopefully we stay above yesterdays low that will be extremely bullish for next week. We will most likely test that 38.7 level by Tuesday or Wednesday, I don't know if we get to 40-41 by next Friday but there is a good chance barring any news of margin hikes etc.


Take a look at the 3 moth daily chart, this is what a bottom looks like, multiple retests of the lows successfully bought and finally bid up, the MACD rapid decline tapers and begins to round out and is now in a bullish cross over mode. This chrat also shows us how almighty banksters attempt to print charts, letting silver rise when everyone (weakest volume of any period) is a sleep and then easily sell it off. So it looks like a double top in this latest recovery for silver, or a failed test of the 50dma. If this happened during the day say between 9am and 1pm I would disagree with my statement but this is just garbage and I just have to get used to it. "Playing in a mine field, occasionally shits gonna blow up".

Monday is Memorial Day Holiday in the US for those of you who are not familial with it here is a good link. Contact someone you know who has served or who lost a loved one in this unnecessary human tragedy we call war. Have a peaceful weekend. LINK

No comments:

Post a Comment