Here is a 15 minute bar chart showing pit and electronic trading in May silver since its high at 1468.
I think this market is in the second phase of a three phase downmove which should carry to point D near 1100. After a rally from 1100 I think we will see more downside action which will carry silver to 920 or so.
At the moment the market is moving up from its early morning low at 1160. This move should itself be a three phase advance and I think the second phase will carry the market down from 1290 to 1200 or so. The third phase will then reach the 1340 level and be followed by the move down to point D.
1 comment:
Hi Carl:
first of all, congrats on GOOG call that you made. You are great at it man.
anyway just wondering if you could go over BOT..since the last time you wrote the stock has come down quite a bit, was wondering if you could give a deeper analysis on it. thanks and have a good weekend.
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