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TFC Commodity Trading Forum

Re: dx and silver / Artie *PIC*
In Response To: dx and silver ()

Haven't been around as much as I'm busy with other things. Here is Dec Silver. Price rolled over and pulled back close to major support of $30. Price broke above the downtrendline yesterday which is a "heads up" and is trying to clear 1st price resistance of $32.50. This is the critical price point to watch as Silver must clear 1st price resistance or could simply be a bounce back within a downtrend. And price must not just poke its nose over resistance with all the stop losses being activated but MUST hold above 32.50 to confirm the pullback is over and a price reversal back up has been confirmed. You can see this 'battle' taking place now with stops being hit just above obvious resistance along with bullish buyers getting long. The battle isn't over yet so don't bet your life on a winner. Price must close AND HOLD above 32.50 to confirm. Price doesn't have to rally strongly above this resistance right away as very often price will consolidate in a tight range for several days just above resistance before rallying again. Also note the oscillators trying to re-clear their center lines and the long term Modified MACD coming back to its center line support as it is still long term bullish from the cross over in August. This is Dec Silver for future traders. I'll post another precious metals trade that anyone with retirement funds can make that is safer without any leverage needed and better balanced.