Monday, July 4, 2016

SILVER Daily Chart 2-Year Record High Above 21

Silver tags the 21 level not seen since early 2014 and runs to 21.23. If you blinked you missed it as price quickly retreated back under 21 now playing around at 20.50-ish. The price move is parabolic. Over the last month, silver runs from 16 to 21.23, +33%. Over the last three months from 15 to 21.23; +42%. Since the low in January, over the last 5-1/2 months, silver rises from 13.80 to 21.23; +54%.

The RSI and MACD indicators remain long and strong wanting higher highs in price after a pullback. The stochastics would like to see price pull back for a rest before resuming the upside. Keystone's 80/20 rule says 8's usually lead to 2's so the breach of the 18 level hints that 22 is on tap. 20.80 led to 21.20. The 21.80 level would hint that 22.20 is coming which would satisfy the projection from 18. So perhaps over the next month, silver will trade choppy sideways and peak in the 21.70-22.50 area.

Keystone posted the Gold:Silver ratio chart about four months predicting that silver would outperform gold going forward. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.