Category Archives: Silver Futures

Silver is technically broken now. 6/27/2013

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Silver failed to hold a crucial target/support number of 21.865 and is now what I consider technically broken.  Until I see a consolidation and a move up I can’t draw new long term Fibonacci levels.

I still own silver bullion and will continue to hold it for years probably. I don’t own and won’t buy any shares of individual mining company stock, only bullion.

Do I still think silver is going to $100+ ? Yes. In my lifetime? No.

I totally called this one wrong.

If you have any questions, [email protected]

Thx,

Dave

Silver technically broken

Silver technically broken

 

 

6/7/2013. 20 Year, monthly chart of silver $SI_F

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Notes on chart.

Silver 20 year 6/7/2013

Silver 20 year 6/7/2013

$SI_F Silver takes another shot at $35

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Silver is near the major resistance level of $35 again on a 2+% move up Friday, November 23rd 2012. Keep in mind Friday was a very thin, abbreviated day and I would like to see the buying continue when the Asian market opens Sunday night, November 25th 2012.

If this move can be sustained, the next major resistance after $35 will be $37.22.

In the chart below, the 50% level of $35.098 is the first long term Fibonacci resistance level. The Fib was drawn from August 22nd, 2011 to June 28th, 2012. You can see where $35 was hit and rejected in September and October of 2012.

The current target on silver is 34.475.

I have been long silver bullion since June, 2006.

Thx,

Dave

Silver near $35

Silver near $35