Close X Cookies are necessary for the proper functioning of By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...

Looking At Silver With A Longer Term Perspective

IMG Auteur
Published : December 29th, 2011
300 words - Reading time : 0 - 1 minutes
( 1 vote, 5/5 ) , 1 commentary
Print article
  Article Comments Comment this article Rating All Articles  
Our Newsletter...





Recently in my analysis of the silver price I had been focussing on the shorter-term head and shoulders top pattern that had developed since this past September. Now that it has played out and we saw the anticipated breakdown in silver, I thought it important to show you the longer term chart using the 3 year. Note the formation of a much bigger head and shoulders top. Using this chart, if the neck line of $26.30 on the spot price is breached we could be in very big trouble. Even more so if the September crash low of $26.15 is wiped out, look out below to what could be a very rapid decline to sub $22.00 silver. As I tweeted today, and it pains me to say this, I took a lot of heat for advising readers to go short but the reality today is that if you bought silver at anytime in 2011, taking into account premiums, you have lost money IF you did not take advantage of higher prices to sell. Please be weary of the old trappings.. (It will come back, time to average down, etc etc) … if you have the stomach to hold on longer term then go ahead. If you need money to feed your family and pay your bills, stay away. The safe haven asset is not so safe at the moment is it? It took a me until the first recovery high of $44.20 to realize that silver looked broken and broken it is. I reiterate that my commentary in “the other side of the coin” holds true. Did we see the parabolic move in silver back in May that signalled the end of the bull? Take a look at the volume into the top and the decreasing volume during the slide.



<< Previous article
Rate : Average :5 (1 vote)
>> Next article
Latest comment posted for this article
What a bad text. This guy does not get it. Read more
bastringue - 12/30/2011 at 1:25 AM GMT
Rating :  2  0
Top articles
World PM Newsflow
Mining Company News
Tribune Res.(Ag-Au)TBR.AX
Notice of Annual General Meeting/Proxy Form
AU$ 4.05-1.22%Trend Power :
Corporate news
Black HillsBKH
3:41 am Black Hills Corp raises its FY15 EPS guidance
US$ 43.53-0.78%Trend Power :
Corporate news
Goodrich Petroleum(Ngas-Oil)GDP
Goodrich Petroleum Announces Private Exchange Transactions for Convertible Senior Notes
US$ 0.84+3.70%Trend Power :
Corporate news
Carmanah Tech CorpCMH.TO
Carmanah Releases Preliminary Financial Results for Q3 2015
CA$ 5.81-1.36%Trend Power :
Corporate news
Black HillsBKH
Black Hills Corp. Raises 2015 Earnings Guidance and Announces Analyst Day Presentation Topics
US$ 43.53-0.78%Trend Power :
Corporate news
Impact Silver(Ag-Au-Cu)IPT.V
IMPACT Silver Provides Update on New Capire Mineral Resource Study
CA$ 0.18+16.13%Trend Power :
Corporate news
Bankers Petroleum(Oil)BNK.TO
Edited Transcript of BNK.TO earnings conference call or presentation 7-Oct-15 12:30pm GMT
CA$ 2.43-7.25%Trend Power :
Corporate news
Cheniere Energy(Oil)LNG
LNG Bust Could Last For Years
US$ 52.74-1.03%Trend Power :
Corporate news
Callon PetroleumCPE
4:18 pm Callon Petroleum announces that the borrowing base under its senior secured revolving credit facility was increased by 20% to $300 mln
US$ 9.03-2.06%Trend Power :
Corporate news
Callon PetroleumCPE
Callon Petroleum Company Announces 20% Increase in Borrowing Base
US$ 9.03-2.06%Trend Power :
Corporate news
Comments closed
  All Favorites Best Rated  
What a bad text. This guy does not get it.
Rate :   2  0Rating :   2