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
- Weekday Wrap-Up: No Hyperinflation, Years of Low Oil Prices, and a Bubble in Stocks | Financial Sense
- From Average Joe To Average Jihadi - How A Texas Plumber's Truck Turned Up In Syria | ZeroHedge
- Viewing Russia From the Inside | Financial Sense
- Things That Make You Go Hmmm... Like A 'Run' On The Gold 'Bank' | ZeroHedge
- Recent Hindenburg Omens Signaled Caution, Now What? | Financial Sense
- The Global Monetary Reset Is Under Way | ZeroHedge
- What Are Technical Indicators Saying About the Market? | Financial Sense
The most relevant financial news and articles from the Internets
- The 7 Most Interesting Art Exhibits Of 2014 | Business Insider
- Notable 52-Week... | StreetInsider.com
- Russia's Central Bank Is Risking A... | Business Insider
- Amazon's Hit Man | BusinessWeek
- Report: Sony Plans To Release 'The Interview'... | Business Insider
- Pakistan slammed for resuming executions after... | Business Insider
- Stocks Rise Slightly in Heavy-Volume Quadruple-Witching Session | TheStreet.com