Sunday, July 30, 2006

Spot Silver Daily Chart

Like gold, silver recently had serious a-b-c correction wave (15.21$ - 9.42$). Silver bottomed below its 200 DMA, rallied to the 50 DMA (wave i) then pulled back slightly (wave ii).Recently silver succeeded to close above the downward diagonal line connecting the May top and the wave (i) top. Currently the price of silver is above the 50 DMA. In my opinion- silver along gold is headed much higher with good chance for accelerated rally coming quite soon.

xag Spot Silver Daily Chart

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