Since my last post on Silver Prices on October 5th, Silver prices have achieved the $18.00 per ounce price target and have hovered underneath that resistance level since then. Let’s take a quick look at silver prices and make a note as to how silver is failing to match the recent highs in gold.
Did price trigger an official sell signal in Silver this week? Let’s view the weekly and daily charts for any clues. Silver Weekly Chart: We’re seeing possible resistance at these levels, which corresponds with an early 2007 high but not much else since then. It’s close to a 50% Fibonacci retracement from the $21 peak…
A reader asked me to comment on the chart of Silver, and it’s quite an impressive chart to behold. Silver is close to doubling in price from the October 2008 lows to present. Let’s take a look at the daily chart and also view the monthly structure as well. Silver Daily: Silver is showing us…
Analyzing gold may seem difficult for traders, but let’s look at a related market – silver – to see if we can gather any insights from the Monthly or Weekly charts in this precious metal – hint: the picture looks a little clearer. Silver ($SILVER) Monthly: I’ve annotated this chart with a possible preferred Elliott…