Silver mid day Thursday

www.goldtrends.net

Silver reached the 38 dollar area today and has penetrated above the mid line. A close above that line would be suggestive that price can move higher. With gold options expiration coming on Monday --- and with the metals up all week --- if a pullback into Monday is planned -- today is where it should start. Support is the lower red line at 35.50-36.20 ----- and resistance is the 38.05 area. Let's see if price can close above the middle red line.

4 comments:

sierra_hpbt said...

well below that mid line now lmao.. never fails..

sierra_hpbt said...

My question is this.. When you have blatant manipulation like we had today with the CME Group raising margin rates how can the charts take this into account?

SilverDoctors said...

you (CME/ bankers, etc) can paint pretty chart pictures playing games...but you can't change a market's fundamentals. today is noise on the way to triple digits

GoldTrends said...

Agree that fundamentals suppport higher price as Silver Doctor's point out --- I don't have a good answer to Sierra_hpbt --- I don't think it can --- and I don't think that charts are the answer to everything. They are a tool that a lot of people use --- so there is some self fullfillment involved. These are just short term updates --- and silver Doc is correct -- just noise at the moment.