Jump to content


Photo

Silver’s Precipitous Fall


  • Please log in to reply
No replies to this topic

#1 James Chen

James Chen

    Senior Member

  • Membre Actif
  • PipPipPip
  • 251 posts

Posted 05 May 2011 - 07:24 PM



Silver (a daily chart of which is shown) as of Thursday (5/05/2011) has dropped precipitously for five consecutive days from near its $50 area all-time high to hit a low just above $35. This deep correction follows a steep run-up that was in place since late January. The bearish correction has taken price down to the 61.8% Fibonacci retracement of the last major bullish trend run. http://fxpath.com/2011/05/05/spot-silver-technical-analysis-20110505-silvers-precipitous-fall/

James Chen, CTA, CMT




Site map