For the first time in 2013, Silver and the Gold/Silver ratio are breaking above their falling resistance lines and that’s a positive for Silver. The last time the Gold/Silver ratio broke resistance in 2010, Silver rallied well over 100% in a matter of months. Are the patterns suggesting another 100% rally in Silver?
The above are edited comments by Chris Kimble (blog.kimblechartingsolutions.com) from his original article* entitled Silver breaks above key resistance, smart money traders are long here!
[The following article is presented by Lorimer Wilson, editor of www.munKNEE.com and the FREE Market Intelligence Report newsletter (sample here) and may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. This paragraph must be included in any article re-posting to avoid copyright infringement.]
Kimble presents the following charts in support of his post:
Silver (SLV ETF)
CLICK ON CHART TO ENLARGE
CLICK ON CHART TO ENLARGE
Members are long Silver due to this Power of the Pattern set up, with specific stops in place.
[Editor’s Note: The author’s views and conclusions in the above article are unaltered and no personal comments have been included to maintain the integrity of the original post. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.]
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