Tuesday, May 3, 2011

Where Is Silver Headed Short Term?

Guys/gals, these two charts tell you where silver is most likely headed in the short term:



Notice the massive VOLUME on both charts.

A correction to $30 on silver is a possibility. I sure hope it gets there, because I'm hedged with long ZSL.

Notice the dollar didn't budge today. What happens when it moves higher tomorrow, as the chart indicates?


  1. Your $30 silver is based on what???

  2. Beanie, You were all excited about silver going higher last week, and telling people to buy Silver last Thursday. Now you're predicting that it may dip way down to $30. If anyone did follow your advice, they may have to wait a while, and experience quite a drawdown just to get back to even on the trade. You're too bullish at tops. JMHO.

  3. I wouldn't know where will silver stop, but I do expect this correction to be short, severe but short.
    Should end this or the latest next week and then we get few nice and rewarding weeks of strong upside, before summer doldrums.

  4. I'm still bullish on silver longer term; however, it is a highly manipulated market and the CME Group has put down the ax and wants the market down.