Sunday, December 10, 2006

Silver Symmetry

As most of you know I have been bullsih on Gold, Silver and Steel stocks for quite sometime but we may see a pullback here which I am looking to buy if things line up. If you look at the above chart you can see that Silver Futures have had a nice rally so naturally it wouldn't be a surprise to see some kind of a pullback.. Look at rally A to B on the above chart.. Notice the rally lasted 57 days and Silver had a move up of $3.80.. Now look at the rally from Cto D you will see that Silver had a very similar rally in price and time as the previous rally and we are at the top of a rising channel.. So what does this mean.. Does it mean that the world is coming to an end? Does it mean Silver is going to crash... Well I think it means we simply may get a pullback which is a good thing because I'd like to buy silver.. Silver has been stronger than gold on this last move up so thats where I'd like to do my buying if Silver dips... I just wanted to post this chart because sometimes it amazes me the symmetry that exists in the market and I try to look for patterns like this all the time to help time in and out of moves...

2 comments:

Yaser Anwar, CSC (Trader- Equities & FX) said...

good stuff.

La specular said...

I think will stay at the upper channel until January07 due to Asian Holiday season consume lot's of Gold and Silver. Especially their economy is pretty robust and many could afford to buy jewels and diverse their investments.

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