Spot Silver intraday 2 hours chart.
Saturday, July 07, 2007
XAGUSD Chart
Some initial upward movement for the price of gold and silver. Not surprising as buy signal was generated by the HUI/GOLD ratio. Silver outperformed and closed at the high for the week. A slight uptrend is apparent on the intraday chart. As you probably know all trend lines are made to be broken and the shorter the time frame the larger the chance that a trend line will be broken. Anyway, markets moves are not linear, markets moves in waves or more precisely fractal waves.
Spot Silver intraday 2 hours chart.
Spot Silver intraday 2 hours chart.
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3 comments:
I guess you might re-think whether palladium is a way much better investment than silver. Because if the speculation on the Russian stockpile is correct, then palladium has the explosive rally potential:
Mistery around the Russian Strategic Stockpiles gets deeper!
Price of a strategically vital metal, palladium, rallied from $145 in 2003 to almost $400 recently, this happened with global production of 7M ounces per year, and on top of that the Russians dumping 1.8M ounces per year from their strategic stockpile. With such extreme over supply palladium should be extremely bearish, but it had been very bullish for the past four years? WHY?
Many experts believe the Russian stockpile is running low today! They can NOT continue this massive dumping. Lots of investment entities saw this and positioned themselves and silently loading up physical palladium. Once the huge Russian dumping is cut off, expect palladium price immediately shot to sky high!
This speaks extremely bullish for a little known stock called SWC, the only US based palladium producer, and richest palladium mine in the world.
An explosive 20 folds gain within 4 years or shorter can be expected. That's 2000% gain!
The perfect technical chart should convince any one the right entry point is right around the corner.
Hi JJ,
Technically Platinum looks a little bit better in my opinion, but Palladium can rally as well.
Good luck.
hey troy,
today silver reached 12.8400USD per oz, more over, some web sites are giving a bullish sign for weekly trading scale if reached 12.8 "whcih was achieved"... guess this is gonna be one of the nicest weeks to watch the silver crawling back up.
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