With silver so close to 50 I'd be surprised to see a major drop
before it at least tests it. In fact, I'm thinking we push
into the 50's after a brief pause there. Gold and silver
usually correct hard together and gold is nowhere near as
overbought as it has been at previous highs in this bull market.
Time for gold 1650! :)
cufuzzy - yes possibly, silver is definitely close to $50.
Also using Fibonacci projection lines, the 1.618 Fib
projection comes in at $51.56, so we'll see! see the chart
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silver/gold
All my charts are saying bottom, bottom, bottom for ZSL. ...
Posted by cufuzzy on 22nd of Apr 2011 at 10:38 pm
With silver so close to 50 I'd be surprised to see a major drop before it at least tests it. In fact, I'm thinking we push into the 50's after a brief pause there. Gold and silver usually correct hard together and gold is nowhere near as overbought as it has been at previous highs in this bull market. Time for gold 1650! :)
cufuzzy - yes possibly, silver
Posted by matt on 23rd of Apr 2011 at 01:05 am
cufuzzy - yes possibly, silver is definitely close to $50. Also using Fibonacci projection lines, the 1.618 Fib projection comes in at $51.56, so we'll see! see the chart