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
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
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
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What about the head and shoulders playing out currently on the daily?
ReplyDeleteselling pressure on gold is unbeleivable. It has been crushed since breaking below 1730, and still no nig buying stepping in.
ReplyDeleteThere 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.
ReplyDeleteLet me show this chart to explain.