It has a gap down around 34.59 area that I am shooting for on my
SLV puts. On CNBC a guest suggests The Euro Countries will be
making an announcement soon that should weaken the Euro .
Silver futures retraced 38.2 percent of the drop, tagged 39.35
area and promptly fell off a cliff. So even with the news of
increased margins (I did not know about this) the technical picture
makes sense.
SLV
Posted by rbreese on 11th of May 2011 at 10:00 am
It has a gap down around 34.59 area that I am shooting for on my SLV puts. On CNBC a guest suggests The Euro Countries will be making an announcement soon that should weaken the Euro .
Silver futures retraced 38.2 percent
Posted by Vida on 11th of May 2011 at 10:04 am
Silver futures retraced 38.2 percent of the drop, tagged 39.35 area and promptly fell off a cliff. So even with the news of increased margins (I did not know about this) the technical picture makes sense.
SLV
Posted by rbreese on 11th of May 2011 at 10:16 am
Thanks fro a clear picture Vida. I noticed the rally volume decreased each up day also.