Yuparino, $Silver taking the BB slide down on the daily as feared (yesterday's #s):
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Question is, will it break downward out of the multi-month symmetrical triangle and below the two year upward lower trend line? Or, alternatively, is it time once more to back up the truck?
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Interestingly, the weekly fast and standard BBs are at approx. the same place, lowers at about 6.77 and uppers at about 7.55, with both sets still converging. Price just broke downward through the midlines at about 7.15, so a trip to the lowers (~6.77) could be in the offing. One would hope for a bounce there or before; if the weekly BBs start to diverge with the price headed downward, then it's game, set, match, TILT!, Game Over. However, twice since March it has bounced after just going through the midlines, so one would hope for a threepeat. If one believes that $Silver on FA principles can't fail, then now is likely a good time to burn any dry powder. I think I'll wait until I see it bounce first.
NC ;o) |
