Tuesday, June 24, 2014

Silver's Descending Triangle Breakout Projection

left side width of triangle should equal right side breakout level...
Posted by Russ at 1:40 PM

4 comments:

  1. UnknownWed Jun 25, 01:52:00 PM PDT

    correct me if I'm wrong, but does this chart suggest silver may test $10 per ounce.

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  2. RussWed Jun 25, 01:54:00 PM PDT

    Descending triangles do not usually go right down to the apex. There is clearly an upside breakout on the chart, there is no denying that.

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    Replies
    1. silverkingThu Jun 26, 08:52:00 PM PDT

      Good point. Silver needs to decouple from gold here to move higher. With the 2015.75 low, do you think silver breakouts should be faded ?

      Delete
  3. RussThu Jun 26, 09:14:00 PM PDT

    After this autumn any rally in both gold and silver may unwind and head back down into mid 2015. It is not guaranteed that the precious metals will bottom right on the pi cycle but there is that possibility.

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