Archive for July, 2011

Silver trading

Posted in Uncategorized with tags , , , , , on 2011/07/12 by rmolby
American Eagle, design by Adolph Alexander Wei...

Image via Wikipedia

OK, a new subject for the blog.

I have been tracking silver prices for 10+ years because I think every middle class family should own a little silver as part of their investement portfolio.

So, I figure I might as well start sharing my data analysis with everyone here on this blog and maybe someone can benefit from this, but let me put on a disclaimer up that non of what I discuss here is financial advice, and you should consult your portfolio manager or family financial advisor before using anything you read here as investment advice.

So, here goes:

Silver Analysis Image

Almost everything in the financial markets follows Fibonacci cycles…more on that in another post.

Anyway, if you look at that chart, you can see that second faint gray line above the 30.0000 line… that’s the $34 line, and that is a support line, starting back in May it never really went below $34 very much, it’s been hovering right at $34 since then…

Then the rising AVG150 line reached the support line in late June, and the London/NY spot price tried to push below that, but the markets refused to stay below $34, and this last week and a half of trading is staying above the AVG150 support… so, I would anticipate that the $34 support line and the AVG50 and AVG150 cycles converged and we are beginning a new cycle starting with a flat plateau with a consequent slow rise back to low $40’s.

I suppose we will see if my analysis is valid.

More later, gotta get back to work, folks.

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