WOW! My short term predictions still coming good....silver continues to rally - morning update
Hi fellow steemers.
Below you will see an update of the series of charts I have been producing over the last few days, trying to predict the course of silver over the short term and to date I'm still doing ok, despit a Fat Finger event, where someone decided to sell a huge amount of silver and gold in a matter of seconds.....but hey, that's a matter of course for us #steemsilvergold bugs.
The #steemsilvergold community is starting to really growing fast thanks to all those that are now using the #steemsilvergold hashtag. And many thanks to @hgmsilvergold for started our community.
During the overnight trading we can see we have reached the $16.80 silver bull/bear fight that I discussed in my last update as per the chart below:
The MACD and RSI continue to trending north, which is positive and for the last few hours silver has been consolidating around $16.80, so my next target is the 'Target zone', as shown on the chart below in magenta, which has been present since the beginning of this move. Please check out my previous posts for confirmation
So where are we now?
The chart below is my current view with the original target zone in place, but there may also be a secondary target of c.$17.25, which I'll keep an eye on. [Horizontal black line]
I did add an older 'medium trend' line [red]; please remember the older the trend line, the more 'strength/power', it has to hold it. Hence why it did not surprise me that we halted at it for a while, and we did indeed breach it. So we still have this are of a tussle around $16.80 to contend with, but this could well be overcome later today. Time will tell as ever.
There are no signs of divergence at this stage, so that is also a short term positive and we are not in the 'overbought' territory on the RSI, so we could have further to go.
I'll hopefully provide a further update at the close of play.
I am @silverdroneman and happy to be a member of #steemsilvergold. If you like this post, then please resteem, up vote and follow me, along with the other members.
keep stacking. upvoted
This market is 100% controlled. Those charts don't mean anything when there are irrational buyers, which there is. 500 to one paper to physical is a hell of a naked short.
It may mean nothing to you, but it has been a profitable trade for me. All markets are 'controlled', maybe you meant manipulated? Well, that is all markets, then. There will always be people who can and will manipulate any market. There are flash crashes everywhere including the crypto's. Each to their own and good luck with your own strategy.
No, this market is 100% fake. It's proven. The manipulators are in court currently, and this is known to be the most supressed market is history, so trying to apply logic to it's movements will end badly. Buy for long term hold against the coming collapse. BTW I own more silver than any other asset.
@anothervoice of the steemsilvergold community was here and up voted this post.