I hope everyone had a good weekend. In my article for TraderPlanet this week I take a look at the setup in $silver.
Here is a piece:
Silver has created a triangle formation with the falling blue trend line and rising blue trend line as shown on the chart below. The bottom trend line is just below the 200-day moving average, which provides silver bulls with an extra layer of support so to speak. When looking at momentum, based on the relative strength index in the top panel we can see that each rally attempt is price is creating lower highs in momentum.
Head over to read the rest: A Trade in Silver All Depends on your Time Horizon (TraderPlanet)
Disclaimer: Do not construe anything written in this post or this blog in its entirety as a recommendation, research, or an offer to buy or sell any securities. Everything in this post is meant for educational and entertainment purposes only. I or my affiliates may hold positions in securities mentioned in the blog. Please see my Disclosure page for full disclaimer. Connect with Andrew on Google+.