Thanks for putting up these Silverlogs EM!
I love watching these. Looks like silver is still poised to make higher highs, judging from that video.
Yeah... oh, no, I mean NO...
This guy gives me the willies a bit...
Just to temper enthusiasm a bit, my analysis on the 4 hr chart suggests a good time to be on the sidelines or going short if anything.
Normally a Piercing Line is bullish... but here it comes off too short of a bear run to be of much (bullish) consequence and that gap up could likely be a Shooting Star on the daily, another bear Signal.
I think long Whiskers. Charting is a bit tough on the p/m's because those who command (manipulate in my HO) use charting to fool the chartists.
In fact I will go out on a limb and say we are only days away from US$30 silver. Its about sentiment and all those pesky enquiries.
Yeah... oh, no, I mean NO...
This guy gives me the willies a bit...
Just to temper enthusiasm a bit, my analysis on the 4 hr chart suggests a good time to be on the sidelines or going short if anything.
Normally a Piercing Line is bullish... but here it comes off too short of a bear run to be of much (bullish) consequence and that gap up could likely be a Shooting Star on the daily, another bear Signal.
That shooting star now has company on the daily chart. If it closes up here for the week, that will be a stronger sign of a fall... contrary to common expectation.
That combination around that spike high on the daily is also ominous for a fall. It's akin to the Falling Three combination, which usually forms in a Bear market to signify more falls. I'm thinking while not pictorially perfect, the message from the price action is the same. those three candles nudged a bit higher within the range of the last big green to the left, before falling below with a bit of gusto the red after... then there is the divergance.
Reasonable summary of where I am as well Explod...Now in all of this we have seen a considerable rally in the US$ since the silver top. I feel that this is temporary and at any weakness on the US$ silver will break the high with relative ease..
Reasonable summary of where I am as well Explod.
I'm still working on mastering the Three Black Crows, now there's the Falling Three Combination. It's takes a bit of keeping up, but don't get me wrong, I do value Whiskers' technical analysis highly, and there is some tech divergence on the recent high.
Found one Whiskers. The three month weekly looks bullish and our star was repeated early in this quarter.
Reasonable summary of where I am as well Explod.
I'm still working on mastering the Three Black Crows, now there's the Falling Three Combination. It's takes a bit of keeping up, but don't get me wrong, I do value Whiskers' technical analysis highly, and there is some tech divergence on the recent high.
Some collapse.
http://www.bloomberg.com/news/2010-...demand-for-precious-metal-as-alternative.html
Gold fell for the third straight session as a strengthening dollar eroded the appeal of the precious metal as an alternative asset.
The euro fell to the lowest in two months against the dollar on speculation that Europe’s debt crisis will spread. Investors also sought the U.S. currency as a haven amid concern that the conflict between North Korea and South Korea will escalate. Before today, gold had gained 24 percent this year, touching a record $1,424.30 an ounce in New York on Nov. 9.
“We are seeing people turn to the dollar and shedding risk assets,” said Matt Zeman, a metals trader at LaSalle Futures Group in Chicago. “Gold is having a tough time along with other risk assets.”
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