Oct 22, 2004

Metal Madness - Silver, Gold

Posted by Hello

Lots of people watching silver here but probably needs to consolidate a bit. I would guess it goes below the most recently low back to 6.50-6.70. The long-term uptrend will be kept intact and I think it would take some major policy changes (fiscal or monetary), to challenge that.

Posted by Hello

Ah the mysticism of the channel. It also appears capped in the short run as these two sisters trade together. They also both trade with the dollar and I would guess the first test of the summer DXY (dollar index) lows will hold and we will get a dollar bounce during the next week.

No positions in anything mentioned.

No comments:

Post a Comment