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A big rally in silver, +2.6%, catches the eye of the technicians as SLV breaks out above its...

A big rally in silver, +2.6%, catches the eye of the technicians as SLV breaks out above its 200-day moving average. The last breakout (on the way up) was in January, and it presaged another 20% upside over the following 6 weeks.
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Comments (13)
  • Larryat36
    , contributor
    Comments (16) | Send Message
     
    Not above any 200 day moving average I can see.
    20 Aug 2012, 03:04 PM Reply Like
  • The Money Man
    , contributor
    Comments (16) | Send Message
     
    yea definitively not broken above the 200. - perhaps they mean the 50 day moving average
    20 Aug 2012, 03:11 PM Reply Like
  • stiggyant
    , contributor
    Comments (3) | Send Message
     
    ehh? Me too. Not. Nice daily bump though.
    20 Aug 2012, 03:13 PM Reply Like
  • hastingr
    , contributor
    Comments (7) | Send Message
     
    Looks like a 100 day line break. Nice move up.
    20 Aug 2012, 03:27 PM Reply Like
  • Drew Donner
    , contributor
    Comments (96) | Send Message
     
    Good bump for the day- not a 200 DMA
    20 Aug 2012, 03:31 PM Reply Like
  • petten
    , contributor
    Comments (128) | Send Message
     
    Above 50-day EMA. 200 must have been a typo.
    20 Aug 2012, 06:03 PM Reply Like
  • NKOTB
    , contributor
    Comments (50) | Send Message
     
    I would refer to the underlying silver chart rather than SLV. The Underlying silver charts has break SMA50 but not SMA200. I would bullish if Silver breaks $$30 or SLV break $29 and hold up above it.
    20 Aug 2012, 10:05 PM Reply Like
  • Jeb Handwerger
    , contributor
    Comments (626) | Send Message
     
    http://bit.ly/SvMDFz

     

    video from early august predicting silver rally.
    24 Aug 2012, 08:38 AM Reply Like
  • Drew Donner
    , contributor
    Comments (96) | Send Message
     
    NKOTB we broke $30 and successfully closed above it Saturday. Hoping for a run! Would love to see a $35 close.
    26 Aug 2012, 11:41 AM Reply Like
  • NKOTB
    , contributor
    Comments (50) | Send Message
     
    Drew, $35 level ? if there is another development on the QE news that would be easy to reach. but silver is at the over bought level now. lets see if it will hold up above $30 on the pullback
    28 Aug 2012, 04:41 PM Reply Like
  • Drew Donner
    , contributor
    Comments (96) | Send Message
     
    Oh absolutely agree it got overbought. Friday, then September are going to be key for silver prices. I was just putting out some wishful thinking on the $35 price point, would just bring a smile to my face (don't have any technical's or graphs stating it will go there) just hoping :)
    29 Aug 2012, 12:28 PM Reply Like
  • NKOTB
    , contributor
    Comments (50) | Send Message
     
    Well, took profit for SLW yesterday, Not so hopeful about QE tomorrow. but still leave SLV with CCsep@27.5. Guess Big Uncle Ben will only take action if there is certainty on the political direction in NOV later.
    30 Aug 2012, 05:40 PM Reply Like
  • Drew Donner
    , contributor
    Comments (96) | Send Message
     
    Its just going to tough for Bernanke being an election year, on top of the timing with the EU, he wont want to appear to be influencing the election in any way. Either way, this whole sham has to end eventually, I'm getting sick of it, that's why I stack physical. :) Hope everyone had a good Labor Day weekend and enjoyed Friday and today's POP!
    6 Sep 2012, 04:42 PM Reply Like
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