Posted by sbaxman111 on 5th of Aug 2016 at 11:11 am
Below looks at the price pattern for Silver over the past 20-years.
The Power of the Pattern humbly feel this is one of the most
important prices points in years for Silver, at (1).
Joe Friday Just The
Facts....Silver is facing a serious breakout test at (1)
above, as five different resistance lines all meet at one price
point. Could be dangerous for the Silver risk on trade, if weakness
would start taking place at (2) above.
Thanks for sharing this potentially prescient chart. Was it
published last night or this morning after the drop? I can't
zoom in enough to see if we have already violated the red line. Is
the red 20.27 number on the right the number that must hold?
If so, we're already below it. i apologize for the hand
holding but appreciate your interpretation.
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Silver Cluster pattern
Posted by sbaxman111 on 5th of Aug 2016 at 11:11 am
Below looks at the price pattern for Silver over the past 20-years. The Power of the Pattern humbly feel this is one of the most important prices points in years for Silver, at (1).
A year ago the Power of the Pattern shared that Silver could be forming one of the largest “Cup & Handle”patterns seen in a long, long time. At the time Silver was trading near $14. Since then, Silver has rallied over 40%.
Joe Friday Just The Facts....Silver is facing a serious breakout test at (1) above, as five different resistance lines all meet at one price point. Could be dangerous for the Silver risk on trade, if weakness would start taking place at (2) above.
Thanks, Sbaxman
Posted by mdgfain on 5th of Aug 2016 at 11:48 am
Thanks for sharing this potentially prescient chart. Was it published last night or this morning after the drop? I can't zoom in enough to see if we have already violated the red line. Is the red 20.27 number on the right the number that must hold? If so, we're already below it. i apologize for the hand holding but appreciate your interpretation.