Saturday, March 22, 2008 12:56:31 PM
SILVER- A TALE OF 2 CUPS
We have been showing you a chart of Silver that I call the Silver Momentum Fractal that contains a directional line that we expect Silver to follow up to $26 to $27 in the May to June time-frame. Yet, there is a higher potential target for Silver in the coming months if we move to a longer-term chart. The below chart suggests that $30 to $33 might be a valid target for Silver in the coming time-frame. That does not mean that Silver might not spike a bit higher if the environment is right. This chart was originally created back in 2006 by another chartist who artistically presented the blue cup on the chart. I am not sure who the original chartist was, but I think that it might have been Salscandle or Mr.Bug. The chart was already set-up in a time-frame conducive to looking for a potentially higher Silver target in this coming time-frame so I hope that the original chartist does not mind me using it to show this relationship. The original blue cup had a top that angled down from left to right. My new potential target black cup has a black top that angles upward from left to right. The black angled lines are confirmed by multiple previous highs including the latest short-term top at around $21.71.
cha-ching
We have been showing you a chart of Silver that I call the Silver Momentum Fractal that contains a directional line that we expect Silver to follow up to $26 to $27 in the May to June time-frame. Yet, there is a higher potential target for Silver in the coming months if we move to a longer-term chart. The below chart suggests that $30 to $33 might be a valid target for Silver in the coming time-frame. That does not mean that Silver might not spike a bit higher if the environment is right. This chart was originally created back in 2006 by another chartist who artistically presented the blue cup on the chart. I am not sure who the original chartist was, but I think that it might have been Salscandle or Mr.Bug. The chart was already set-up in a time-frame conducive to looking for a potentially higher Silver target in this coming time-frame so I hope that the original chartist does not mind me using it to show this relationship. The original blue cup had a top that angled down from left to right. My new potential target black cup has a black top that angles upward from left to right. The black angled lines are confirmed by multiple previous highs including the latest short-term top at around $21.71.
cha-ching
I invest strictly off charts......do ur own DD
I invest in stocks that trade 500,000 + shares a day
DO NOT BUY OR SELL SECURITIES BASED ON ANYTHING THAT I POST
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