Market Curiosity: Exploring Markets And Systems

December 5, 2010

Next Silver Resistance Is $41.50

Filed under: Just Watching — Tags: — Jeff Fitzmyers @ 1:31 pm

Check out MRCI’s monthly silver chart. The past 2 corrections, $25 and $29, have happened at, and only at, previous chart points (a local high and a gap). The is another minor chart point around $33, but then really nothing until $41.5. After that, it’s the old high of $50 and then blue skies.

What would be symmetrical, yet unbelievable is if this Monday turned into a gap opening at $30 and did not close.

(I removed the middle of the graph.)
Monthly silver chart with the middle removed

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