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S W
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When Will Silver Make a New High?

- Andrey Dashkov - Casey Research

In order for silver to make a new high it has to close at >$50.00.
Who knows when that will be? Who cares? ( well i guess i do because i'll be having a big slice at that level asap.)

All fundamentals aside,even if they are of use,the daily chart is a little promising but i will be surprised if it does not run into some strong resistance (looking at the weekly chart with its strong downward bias.) at around 3300.
A close>3600 will signal a time to get long on a pullback from there.

HOWEVER THIS IS ALL PURE CONJECTURE

WHAT IF THERE IS A CLOSE BELOW 3000? Hello 1850 !!!!!!!!!! OR LESS. Without checking that would be a lot more than 57.6% ( an arbitrary figure at best).
Why would it be a buy there, as there would be something drastically wrong with the whole shebang?

If one wants to buy and expects the market to fall to wherever then one should put an order in at the wherever level otherwise when it gets to that level one will do what all traders will do and say whoa...put an order lower still.
Doesn't work...full stop.

Why? Because nobody can predict with any certainty what the market will or will not do!

I could toss a coin and make a decision to buy or sell on any market in any time frame,enter and set a stop and be perfectly happy. In fact that is the way to make money because I do not set limits to profits. ie nobody knows what the market will do in the next time frame.

Commented 4684 days ago

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Beginning of the headline :Inlast week's Metals, Mining, and Money, Jeff Clark estimated that given the magnitude of the correction that started last September, it may take until May 2012 for gold to reach a new high. This week let's take a look at how long it may take for silver to rebound. It's a commonly known fact that silver is more volatile than gold... Read More

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