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Cedric Thompson, CMT I am a Market Analyst at the Trinidad and Tobago Unit Trust Corporation as well as a member of the MTA. In 2007 I graduated from the University of the West Indies with a Bsc. in Actuarial Science. Follow my trading strategies on Collective2! -... More
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  • CTA 24-Jan-14 - XAGUSD 0 comments
    Jan 24, 2014 4:25 AM | about stocks: SLV

    XAGUSD (Silver) appears to be completing its pennant formation, with support around the 19.95 price level. Given the pattern formation of the pennant, a price target of 20.60 has been calculated. Based on current price levels this would be a 3% move higher. A stop should be placed around 19.88, a little below the support area of 19.97. Thus the trade is risking a 0.57% loss for a 3% gain. The chart below shows XAGUSD.

    (click to enlarge)

    Themes: Silver Stocks: SLV
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