Market Scheming

Monday, August 16, 2010

Silver and gold update


Silver chart i have below is pretty interesting, it has cleared all move averages and is about to break either up or down from this triangle it is.


the slow stoch is not over bought,, and the macd just upticked, I see a logical target to a be at about 20.25 to 20.45
o much it might bring down silver as it is a industrial / precious metal.

we will see if the stocks market tanks to




looking at gold long term and short.

Seems like in a really good position.  bounce off the 200 MA and now up and above the 50 and the 20 MA. And held above the 61.8% retracement o the last down leg.
a break out over the 100% retracement and the up channel top that it is trading in, would have a target of 127.50.  so over the next 2-3 weeks we will see if it continues up or break down shortly.


 

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