Thursday, April 21, 2011

Silver to the parabolic phase?

World Silver Index for Thursday, April 21st, 2011.  Silver has had an 'up' day 13 out of the last 14 days which has the price riding along the upper bollinger band. How long can Silver sustain such a rally is anyone's guess.  When you add in the shorts that have had enough 'pain', this market can continue to go higher.

On the other hand, new shorts will come into the market and the bears will have their way for a little while before worldwide demand takes over and hand the reigns back over to the bulls.

RSI is overbought
It is trading over the upper bollinger band which suggests that it will come back within the bands soon.
Stochastics are embedded again.
MACD Histogram is at the upper end of the range.

This rally is what all Silver bull have been waiting for...  Will we see $50 before the first half of the year?

No comments:

Post a Comment