Simple's Green Room

[simplegreen]

Now for the chart on silver.. weekly chart IMO shows a tired trend like the SPX trend..it appears that the traders have decided that any move above 38 is excessive so selling or shorting has become the game on any rallies now.Its resisting nicely at SMA10 and is now resisting at SMA20...this is normal and it may well do as I expect on SPX for a season and find some crisscross action of SMA10/20 til it forms a bowtie then after that runs its course the natural direction would be a downtrend but again no one can predict til either new trend begins to the downside or old trend continues up.This fits in beautifully with what we see on SPX and DXY due to how the 3 correlate.BTW if silver breaks hard to downside the SMA50 would be target number one at about 29...target 2 about 23 and max downside target about 19...I really dont think we will see it ever breach weekly SMA200 at 18.75...chart