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Thursday
Jan252007
SILVER: Preparing for another attempt at new highs?
Thursday, January 25, 2007 at 01:07PM
Having been hammered back from $14.00 silver once again brushes off the dust and climbs back into the ring.
From the chart we can see that despite the sell off silver did not break through its own 200 DMA but managed to hold and then bounce to higher ground. This is great to see but we must expect more volatility as more and more speculators decide to try their hand in this sector of the market.
In our humble opinion we believe that the longer silver goes sideways the greater the breakout when it finally arrives. That could be a downside breakout I hear say, yes indeed it could be. However we think that this Bull Market has a long way to go yet so hang on to your stocks and be patient, the best is yet to come!
25 January 07
silver, stocks, Bull Market
From the chart we can see that despite the sell off silver did not break through its own 200 DMA but managed to hold and then bounce to higher ground. This is great to see but we must expect more volatility as more and more speculators decide to try their hand in this sector of the market.
In our humble opinion we believe that the longer silver goes sideways the greater the breakout when it finally arrives. That could be a downside breakout I hear say, yes indeed it could be. However we think that this Bull Market has a long way to go yet so hang on to your stocks and be patient, the best is yet to come!
25 January 07
silver, stocks, Bull Market
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