Hi Yo Silver…GAP fills going to be accomplished?

Posted by Chris Kimble on 01/26/2012 at 6:44 am; This entry is filed under silver.

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Shared the chart above with Premium Members a few days ago, sharing that you would want to be on board the breakout.  The above chart  reflects that once SLV edged above the Gap fill at (1A) a breakout was at hand.  A positive besides the breakout is the break above falling resistance in On-Balance-Volume.

SLV has an unfilled gap at $32.64 (which must be respected) and a huge gap at (2), which comes into play at $38! 

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5 Comments

  1. stemphos January 26th, 2012 at 8:55 am

    Hi Chris,

    I too fully expect SLV to make a run at $50. Would you buy now or wait for a small pullback. On metals, I put 10% stop losses in place which would be just below the 50 DMA @ 29.54.

    SLV has broken out of its BB.

    What do you think? Is there any other for SLV besides the 50 DMA?($30)

    Thanks
    Aaron

  2. Ray January 26th, 2012 at 9:34 am

    I have a hard time subscribing to the fill-the-gap theory on an ETF that trades for only part of the day but reflects an underlying commodity that trades 24 hours a day.

  3. Chris Kimble January 26th, 2012 at 9:44 am

    Aaron…

    Members are owners of SLV on the breakout and XME due to its flag breakout and test of support on 1/17.
    SLV is dealing with its first GAP today, so one should expect backing a filling. Will watch OBV very close here as a good clue to SLV upside potential. The pattern remains a positive.

    Per hitting $50, I like the way you are thinking from a position bias perspective. We will look very close at harvesting at the big gap fill.

    Chris

  4. phantom January 28th, 2012 at 11:50 am

    how do i get access to your premium member service?
    thanks

  5. Chris Kimble January 29th, 2012 at 4:03 pm

    P-

    To receive info and Premium Membership details send and email to this address -premiumrequest@kimblechartingsolutions.com and you will be sent full details within 48 hours.

    Thank you,
    Chris