How dreadful dollar is breaking the 20-day MA on the monthly charts, and there doesn't seem to be any short-term support. This will lead to commodity strength.
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Silver Head, and Shoulder?
- Thread starter alexandercho
- Start date
Now here's the selling pressure looks like that head, and shoulder is finally coming into play. About freaking time, omg...
Wow.... holy crap look at them buy up that dip. this is crazy I hate side way channels. Hmm....
Then they just sell after that quick buy in. Lower lows, lower highs. This is a down trend, pulling the trigger I am short this market.
Yeah well that head and shoulder pretty much failed, because the dollar kept falling down in value. So, that's just the way it works.
However the dollar is rallying again right now, so maybe silver will correct itself eventually.
However the dollar is rallying again right now, so maybe silver will correct itself eventually.
Also I noticed that Silver is touching the upper channel on the 10 year charts. Hmm, I don't know if I like silver at these valuations, but I will acknowledge it has made new highs.
If I am trying to hard to find a reason to short silver how come I am making money shorting silver. Silver has just collapsed in valuation in the past 2 hours. Didn't you pay attention to the 10 year chart? I was long silver at the 24.00's and at the 30.00's I'm a little bearish. We touched the upper extreme of our 10 year channel. A double touch on the same channel results in a pull back of 2-5 dollars. Read the charts, and disregard the emotion.
I am not trying to find reasons to short not because I want to. I am finding reasons to be a contrarian. Because I don't want to jump off the cliff with the herd. Besides, it's my job to be a realist, not an idealist.