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Technical Analysis with chessNwine

chessNwine
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
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Metals Flashing Some Bling

chessNwine Wed May 18, 2011 7:46pm EST 3 Comments

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Gold is in better technical shape than silver here, though both metals popped above some short-term resistance trendlines today. i am not expecting new highs in silver anytime soon, but this may be a good time for shorts to lock in some gains, if today’s move holds.

See my notes on the charts of their respective ETF daily charts below.

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3 comments

  1. MOTV8
    MOTV8
    May 18, 2011 at 10:11 pm

    Nibbled on a little UXG and SVM before close yesterday based on the adx and macd, for a swing…

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    • chessnwine
      chessnwine
      May 18, 2011 at 11:34 pm

      nice

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    • MOTV8
      MOTV8
      May 20, 2011 at 11:27 am

      Aargh…as usual with my forays into pm’s this morning’s chop stopped me out of UXG just under 6.38, and then promptly reversed huge.

      Props to anyone that has this market figured out, I’m gonna go have a sammich…

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