Silver….breakout of rising channel

Posted by Chris Kimble on 10/13/2010 at 2:06 pm; This entry is filed under silver.

Harvested Silver (discussed in the chart below), with “Pocket Change” gains in excess of 20%. (see post here)  At the bottom of that post the game plan was… “If Silver breaks resistance, we go back after it!”   Updated Silver chart below.

The Fibonacci 50% level is discussed in this post (see post here), which reflects that Silver needs to reach $26, to test the next 30-year resistance price.  The 50% level should cause a pause in Silver, about 10% above current prices.

Game Plan…Silver broke resistance, re-entering Silver here.   Make sure to place a 5% stop on this new position.  If Silver breaks the top of the channel support, I will post an update. 

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2 Comments

  1. william October 13th, 2010 at 3:59 pm

    incredible……this stuff is bullet proof.

  2. C in Kentucky October 13th, 2010 at 6:59 pm

    I’m surprised this isn’t a paid site, amazing, crystal ball-like advice by the King of The Pattern.