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TFC Commodity Trading Forum

Re: silver daily *update*... Ronbo/Silver chart *PIC*

Hey Ron,

I think $35-36 (Oct. high, 200dma) is a reasonable objective for the coming weeks, although Silver has to chew through the $30-32 resistance area first, which is my initial target. The chart has a nice double bottom here ($26.15), accompanied by pronounced positive divergences in RSI and MACD over the stretch of it. MACD is also close to a bullish cross, with RSI fast approaching the 50 line. Guess we'll see what happens soon enough but certainly the massive bearish sentiment and major wall-of-worry that has been constructed in short order for this sector (especially Silver) is attractive from a contrarian standpoint. Read the articles I just posted from Micik for a similar perspective.

Glad to hear that you may soon get to more peaceful surroundings...that will definitely improve your focus. Nice to see you keeping things 'real' at TFC too Ron...there are 'traders' here, like yourself, and then there are non-trading 'marketers'. It is one thing to consider the input from the former when they politely 'suggest' a course of action, but when the latter says you 'should' have done something, it is quite hypocritical. Such individuals should follow their own advice first. Anyway, I've noticed that most of the 'true' traders at TFC have stopped responding to that element of the forum. Best to just chat back and forth with the actual traders who come here without other 'agendas'.

Best regards