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Wednesday, December 14, 2011

Silver - Hit Target - 3rd Bottom

Silver hit the anticipated downside target this morning.  The symmetry suggests that the 3rd bottom is a significant bottom with a strong rise to follow.

A rise from point 3 to point 4 should be steady with few dips.  A top is anticipated at approximately $37 on the Silver futures (point 6).  Point 6 is anticipated to be a higher high than point 4.      

2hour Chart

4 comments:

  1. What about the head and shoulders playing out currently on the daily?

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  2. selling pressure on gold is unbeleivable. It has been crushed since breaking below 1730, and still no nig buying stepping in.

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  3. There are always multiple patterns in the mkt at any one time. Ignore the H&S on Silver, because there is a very bullish, much larger Silver pattern that just set up.

    Let me show this chart to explain.

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  4. Nice blog good information about market I really appreciate your post and you explain each and every point very well.Thanks for sharing this information. And I will love to read your next post too and most welcome MCX Gold Today MCX Silver Today

    Thank and Regards

    MCX Crude Oil Today

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