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Technical Analysis with chessNwine

chessNwine
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
8,861 Blog Posts

Back in the Hole

chessNwine Mon Nov 25, 2013 8:38am EST 4 Comments

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I have been fortunate to catch some good entries on both long and short trades in the precious metals and miners complex dating back several months.

To my eye, silver is now back on watch for a long trade, preferably using the AGQ ETF (levered long).

Both chart below are dailies of the silver straight-up ETF.

The falling channel (light blue lines on first chart) has become quite steep, and you can see a very oversold RSI on the top pane of the second chart. With a sign of strength above $19.30 for the SLV I have the play on watch.

What are your top ideas this morning?

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SLV

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sc

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4 comments

  1. Darwin
    Darwin
    November 25, 2013 at 10:07 am

    P, top short idea

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  2. L_T
    L_T
    November 25, 2013 at 10:25 am

    Can’t help but think GDX will become a long-term buy (not a trade) somewhere a few points lower.

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