Monday, July 10, 2006


Here is an hourly chart showing pit and electronic trading in September silver futures. I last commented on this market here.

I think a three phase correction is underway and that it will end near the 1070 level. From there the market should resume its move to 1270 which is the 3 and 5/8 multiple of the 1991 low at 351.

I think the drop from 1270 will carry silver under the 900 level.

No comments: