Spamwich's  Instablog

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Specialty: Technical Analysis My early years were not so rich, I had a poor family, at age 12 I landed my first job as dishwasher for $6/hr, by 14 years old my mother suggested to cut grass around our town for extra money, so with what little money I had, I put into some fliers and a lawnmower.... More
  • $Silver Giving Topping Signals, Extreme Caution Warranted 1 comment
    Feb 25, 2014 9:26 PM | about stocks: EGY

    The descending triangle on silver has resulted in the "pop" targeting the second wave within the triangle, as I've watched many of these unfold it was to my expectations, however this is not a bullish formation. At any point within the target region the price could drop quite swiftly, testing support at $18, and ultimately targeting $15-$16 in an impulsive move.

    technical on the daily are giving me topping signals, RSI is at the top of the range, while the MACD attempts to cross over. If price can exceed $23.50 then I will revise my primary expectations... (click to enlarge)Target region reached, Technicals showing weakness

    Stocks: EGY
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  • Albertarocks
    , contributor
    Comments (2216) | Send Message
    The last time I wrote a comment on SA was probably a year before you wrote this piece. I came across it today. What a great call.
    12 Mar 2015, 08:42 AM Reply Like
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