Friday, February 18, 2011

Silver Streak

A cloud appears above your head
A beam of light comes shining down on you
Shining down on you
--Flock of Seagulls

Break out on silver yesterday and pretty follow thru today.


Former technical resistance now becomes support. Any pullback toward the $30 breakout level is likely to be bought by traders.

position in silver

1 comment:

dgeorge12358 said...

On 1/2 point box point & figure chart:

$27 shakeout pattern
$28 action point (buy)
$30.5 triple top breakout
$43.5 bullish preliminary price objective
Traders now buying/adding to pullbacks
$26 tight stop
$24 loose stop