Category Archives: Silver Futures

$SI_F Silver futures 1 year, daily chart. $28.79 high today. New target = 29.11

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Silver made a big move up today on no apparent news that I can find. It’s especially worth noting that gold didn’t make a big move up with silver. That really got my attention.

Silver closed out a previous -23.6% Fibonacci target of 28.20 and the new target is 29.11. There will most likely be resistance in the $29 area.

Please keep in mind if you trade silver bullion, you’re in for the long haul and big daily swings are normal.

Contract: $SI_F Silver futures

Date of occurrence: Monday, August 20th 2012

What happened: Price closed a -23.6% Fibonacci target of 28.2

New levels: Target = 2911. Support = 28.11 and27.95

If you have any questions, [email protected]

Thx,

Dave

Silver Futures contract target =

Silver Futures contract target =

$SI_F A textbook example of a -23.6% target hit and faded

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This a a textbook example of the -23.6% Fibonacci target being hit and faded.

This target was projected on Friday, April 20th 2012, and was hit today, April 25th 2012. As you can see in the chart the target was 29.95. Price made  a low of 29.92 before pushing back up to close at 30.68.

Fading these targets on the daily charts are a great opportunity for substantial profit on one trade if managed correctly.

Thx,

dave

Silver futures contract target hit at 29.95

Silver futures contract target hit at 29.95

$SI_F 1 year, daily chart. Silver futures 34.215 target hit and closed. New target = 34.635

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On Thursday February 2nd 2012, the silver futures contract, the SI, hit and closed a target of 34.215. The new target is 34.635 with first support at 33.94 and second support at 33.82.

Silver has absolutely been on a rip from $26 so I would not be surprised to see a pullback in the not too distant future. I maintain my call of silver reaching near $100 an ounce.

Thx,

dave

Silver futures target = 34.635

Silver futures target = 34.635

$SI_F 1 year, daily chart. Silver futures trend change. Target = 34.215

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On Wednesday February 1st 2012, the silver futures, the SI, closed above a 61.8% Fibonacci resistance level of 33.67.  This caused the trend to shift from down to up with a target of 34.215 with first support at 33.535 and second support at 33.425.

Silver had just reversed trend yesterday from up to down but the pullbacks are being bought heavily right now which makes me think the institutional players have entered the silver market big time.

If you have any questions, [email protected]

Thx,

Dave

Silver futures contract target = 34.215

Silver futures contract target = 34.215