Here is an hourly chart showing pit trading in May silver futures.
In silver I have been the yo-yo at the end of the market's string. I had been looking for a three phase rally from 967 to end near 1012 but the market has today reached the 1026 level. This makes the move up from point c bigger than the move from a to b. This coupled with the strong move above the 1012 level makes it likely that a more substantial upmove started from point a and that this swing will continue up to 1092 or so.
1 comment:
As it is, given the amount of inflation that has happened in the past four years, it only by pure magic that one can buy silver for so few dollars.
March 20 is the opening of the Iranian oil exchange. March 21 is the last time the US will publish the M3. Makes my mind wander to gold, and I'm not the only one.
I understand how and why you read silver because of the systems you work with and analyze so well here on this blog. (Thanks, by the way) In a way, the failure of the system you use is a symptom of sailing in these uncharted waters where nobody is sure exactly what will happen and we feel a slight niggeling at the back of our brains saying that gravity still exists.
Please explain why the markets are not acting as they should. And tell me why this economy should be sustained at all, besides that the alternative is unthinkable.
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