| Silver continues below the 200 day Moving Average (MA) for the 5th day. It has been below the 50 day MA for 15 days now. We see continued weakness in the Relative Strength Indicator (RSI), Moving Average Convergence/Divergence indicator (MACD) and Slow Stochastics (Slo STO). All indicative of continued weakness near term for this market. While we have a crossover on the Slo STO it is still below 20. Once we have a crossover trading above the 20 level we will have confirmation of a rally. Currently there is a slight trend up but with out real strength. Good potential for continued weakness. |  |
| The Traditional 3 box reversal Point and Figure chart indicates a breakdown below the moving average and reversal of the upward trend back on January 26th. Current support would be around $12.00 with the potential for further breakdown in price to $8.50 Stockcharts.com Revised Bearish Price Objective is $11.00 |  |
| Reviewing the next three charts on a 1%, 3% and 5%/box 3 box reversal (short, mid and longer term) we have two potential Bearish Price Objectives and a longer term Bullish price Objectives: $13.77 Short Term (4-6 weeks) $10.32 Mid Term (6-12 weeks) $25.89 Longer term (12-36 weeks) Best support levels @ $12.05, $10.39 and $8.97 Accumulation of Silver at this level and potentially lower is possible for long-term minded investors/traders. I personally look for more strength to return to the market before I start making additional position purchases. Such indicators would be three consecutive day closes above 200 day moving average, increasing RSI, positive MACD and Slo STO crossover above 20. I tend to like to see 2 or 3 indicators confirming each other. |  |
 | |
| "Chart courtesy of StockCharts.com" |
I do not act as an investment advisor, or advocate the purchase or sale of any security or investment. Investing in investments highlighted in this commentary or on this website should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of any company. Information contained herein is obtained from sources believed to be reliable, but its accuracy cannot be guaranteed. The commentary provided is for your review and educational enlightenment. Any actions you take on any commentary made in this document are actions taken solely at your own risk. There is no guarantee (implied or otherwise) made by any comment, commentary, author or affiliate that you will make money by investing in any discussed investment vehicle. You should be aware that investment markets have inherent risks and there can be no guarantee of future profits. Likewise, past performance does not secure future results. Commentaries and personal opinions are subject to change at any time based on new, changed or revised information and may or may not be posted, distributed or otherwise made public in any manner or at any time. Commentaries are accurate to the best of the authors ability at the time of posting based on personal research that should not be considered "all inclusive" or "complete". You take all responsibility for any of your actions related to these commentaries, postings and personal opinions and agree to indemnify and hold harmless the authors, commenters and contributors of this posting and all postings located at this website.
Any and all comments posted are subject to deletion at the sole discretion of Kevin Perryman, or any agents of Kevin Perryman.
Standard Disclaimer applies