SILVER INVESTORS: Take off your Tin Foil Hats!

[murray t turtle]

Quote from Chicago_CTA:

Perhaps a better reason to be long silver right now is not the end of the US dollar, or of the world, but a nice "Inverted Head & Shoulders" on both the Daily and Hourly charts:

5/6/11 LOW: $33.035

5/12/11 LOW: $32.30

5/17//11 LOW: $32.96


Upside target should be resistance near $39.57, basis July futures.


Thoughts?

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Sure, thats reasonable resistance [$ 40 .00 area], especially since there is significent buying @ $33+ area. Plus CBN news noted SC legislature working on a bill for gold & silver coins legal tender

However, even for scale in buyers, looks like enough short & medium downtrends to take out the $30 area lows. Not a prediction, simply probabilities

 

[Alex_in_Oz]

Mark my words, by the end of June 'paper silver' will trade at US$55 an ounce.

If not, I will fly over to the USA and eat some chitlins and grits!

 

[ammo]

39 then 16

 

[murray t turtle]

Quote from Alex_in_Oz:

Mark my words, by the end of June 'paper silver' will trade at US$55 an ounce.

If not, I will fly over to the USA and eat some chitlins and grits!

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A-OZ
In some markets [no names please]& insurance sales[based on estimated value];
it already hit $55 area last cycle

I picked up an old Investors Business Daily;
silver was charting $17 +/. But it has to clear $ 40/$55.55 area first perhaps. Not a prediction, Baptists dont do that