Friday, June 17, 2011

Silver Presenting Good Sell Entry Right Here? 6:50 AM CST 6/17

(Chart 1 - Silver 30 min zoom)
(Chart 2 Silver 30 min )

Silver formed a good shooting star on the 6-630 bar right off of the midpoint of the bearish orange channel.
We also broke out of the blue bullish channel to the downside.

Read my intermediate view on silver here

As to how to time it, I think here is a damn good entry point. (35.42 currently)
Just remember, you have to possibly stomach a move to just under 36, but I think you won't have to this time.... silver feels heavy this morning.


  1. haha. i just placed a sell order at 35.42 about 20 mins ago. I think we're gonna re-test 33 next wk.

  2. Great (or otherwise) minds think alike ;)
    good luck

  3. Just added to mine on that spike into 35.75
    fingers crossed

  4. Im with you guys. just bought some more puts. Lets hope it plays out as planned :)

  5. 30 min forming good shooting star in silver off of the famed 35.94 level

    gold doing SS off of 1543 level I highlighted earlier...

    lets hope these are the highs ;)

  6. just failed to break $36 at almost the same point as weds. That's a good sign. fingers crossed it's downhill all the way to next week now.

  7. Do you guys think we will continue to trade sideways today?

  8. Anything is possible, but oil euro and stocks all rolled over....
    was short those, but still sitting on short silver and gold waiting for it to come in... and it certainly isnt.

    I am trying to be patient as both silver and gold rejected their ultimate resistances again today (35.94 and 1543 respectively)

    Ive made my bets... just hoping this afternoon or sometime early next week we finally get a nice downspike that actually holds/follows through

  9. Ive been watching oil as well. Didnt place any bets on it but wish I had. Nice call on that.

    Silver is taking its sweet time.