Potential Path of Silver’s Coming Rebound

Just as we did with Gold, we looked at Silver’s performance following bottoms in 2004, 2006 and 2008. We took that weekly data and merged it into one. We then added that data to a $19 Silver price on July 1, 2013. Note that this is weekly data.

Going forward, the big resistance spots will be $26, $30 and $35. The chart of Silver shows quite a bit of potential congestion from $26 to $30.

The projection shows an unimpeded five-month rise to $27 followed by a pullback to $25 and rise to $30. Note that while maintaining a gradual uptrend Silver could be in a range from $25 to $30 over the bulk of 2014. The chart shows no sustained break above $30 until the end of autumn 2014.

june21silverproj

Tags: 
Advertisements

About abwehra group

The Art&Science of Trading Gold
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s