Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199

 

Search Silver Prices
Silver Price
[Most Recent Quotes from www.kitco.com] Our RSS Feed

Silver Updates by Mail

Enter your email address:

Follow Us on Twitter
« Minco Silver Corp: Appears to have formed a base | Main | Silver: Formed a base? »
Sunday
Jun032007

Silvers Golden Cross

Technical indicators are not perfect and if they were we would all be fat and happy.

Silver 3rd June 07


However when we see a chart formation such as the one above that silver recently formed it does give us reasons to be cheerful. From this chart we can see that the MACD black line has just crossed over the red line in an upward move, sometimes referred to as the golden cross. If we back track through silvers history we can see that this is usually followed by a substantial move upwards in the price of silver. It will be interesting to observer silvers behaviour over the next say four weeks and see if silver conforms or not. Our hunch is that it will but short term trading is always very difficult so if you do decide to invest based on this type of indicator then pick a quality silver stock that you would like to own anyway. Then you wont be too disappointed if she misbehaves.

Silver stands at $13.74 today so we will check it out again on the 3rd of July 2007.

PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>