Quote from murray t turtle:
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Trader-trend fighter;
Well its a downtrend by some mesures;
[1]not clearing the $50 area, [2] plenty of times below $32 [3] One dealer said $32 is a silver sell+ he makes his living selling, buying metals, not SLV
But really when you look at ALL data for SLV,[MAX data,2006 thru NOW, all of data ] its mostly uptrends;
most of silver is uptrends, by most measures/all data
Long term,most trends most uptrends are UP;
most all SLV trends , silver trends are UP.Sure SLV, silver is a roller coaster, but by definition long term trends puts TIME on the Uptrenders side + option sellers side.
With all due respect to shorts, $32 is a good sell; but most trends are up, the more experienced the trader/investor the more that means............%%%%%%%
If we going to expand the timeframes until it fits our directional bias that is not too far from lying to ourselves.
Todays market are very hard to predict long term, best you can do is use larger timeframes to find potential areas of support and resistance for quick reaction, but all eyes on the near term charts as they will give the most opportunities.
