Checking in on Silver again
Back in December, we posted this chart of our prediction for Silver. The chart in black is our original from December 2011. The green chart is where the SLV is at today, with some minor adjustments to the head and shoulders pattern that we predicted.
Where is Silver going from here?According to our mapping of Silver, it should cross $36 by the end of February. At this point we expect some resistance. If we break through this resistance (and let me be clear, this is not a sure thing. No one can predict the future 100% of the time) We expect a rise to $40, and then a throw-back to the orange trend line (somewhere around $38 at that point), and then a parabolic move up to all time highs around $48.50. 2012 should be an interesting year for Silver, and the Masters are all over it having called the bottom at $26 back in December.
Our original Silver Prediction from December 29th 2011. Scroll down to see the chart today.
Silver Chart Today:
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Why Economists and Markets Disagree on Fed Rate Hike Timing | Financial Sense
- New Lessons Will Be Taught Soon | iBankCoin.com
- Thoughts About Chinese Stocks, Reserves, and SDR Inclusion | Financial Sense
- There Is No Exit: Why China's Plunge Protection Is Here To Stay | ZeroHedge
- Why Your Portfolio Does Not Perform Like The Indices (In 1 Simple Chart) | ZeroHedge
- BEHOLD! Generosity | iBankCoin.com
- A Philadelphia Story - 30 Blocks Of Squalor & Government Incompetence | ZeroHedge
The most relevant financial news and articles from the Internets
- The 7 best new features coming to Windows 10 | Business Insider
- Google has admitted that releasing Google Glass early... | Business Insider
- The amount of TV kids are watching has collapsed (DIS, CMCSA, TWC, TWX, DISCA, VZ,... | Business Insider
- Hallucinogens Legally Sold as 'Bath Salts' a New Threat | BusinessWeek
- Here comes the health care spending boom | Business Insider
- Windows 10 will save Microsoft from itself after the Windows 8 disaster (... | Business Insider
- ART CASHIN: 'The market is not the random event that academics and other... | Business Insider