Silver; Dangerous price point to slip from

slipping pic

Below looks at a chart of Silver prices over the past 8-years. After declining sharply, Silver hit its 38% Fibonacci retracement level twice at (1). After failing to break above Fibonacci retracement resistance, selling pressure picked up and Silver fell hard.

silver testing 23 fib level slip risk july 25

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Silver is now testing its 23% Fibonacci retracement level and falling resistance at (2), inside of a short-term rising wedge pattern.

Silver is testing short-term rising support at (3), just under Fibonacci 23% level.

It could be important for Silver to NOT slip below support at (3), just below a key retracement level at (2).

 

Doc Copper going to peak again at 200 Day moving ave?

mountain peak

Doc Copper is often viewed as a leading indicator, for global growth or lack of.

The 200 day moving average is often viewed as the line in the sand to determine if an asset is in an up or down trend.

Is Doc Copper climbing above its 200 day moving average a good or bad sign?

Below looks at Doc Copper over the past decade with the 200 MA applied.

copper 200 day moving ave peak july 21

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Copper peaked in 2011 and since, has continued to create a series of lower highs and lower lows. Since 2011, each time Copper has moved above its 200MA line, it has been a time to sell Copper, as it was near a peak, inside of this uniform falling channel.

Ole Doc Copper is now a small percentage above its 200MA at (1) above. Will it be a peak again for ole Doc Copper or will it be something different this time.

What Copper does at (1), could send an important macro message, per seeing if the down trend in Copper will continue.

 

Key inflection point and opportunity? What would you do here???

what would you do here july 20CLICK ON CHART TO ENLARGE

The chart looks at an assets price pattern over the past 30-years.

A potential inflection point is in play at (1) above. In my humble opinion the odds are low this is a head & shoulders pattern.

This assets is testing a cluster of support at (1) at this time.

What would you do at (1)???

If you would like to share what you would do here, we would love to hear from you. Shoot us an email at services@kimblechartingsolutions.com and let us know what you would do with this pattern.  If you would like to know what the asset is, send us and email and we will get you the answer a couple of days from now. Members will be updated ASAP on this pattern/potential inflection point, where a big move could take place.