Loading ...Silver and the 30 week moving average…
The 30 week moving average (30 WMA) for silver is rising. If this is a true bull for silver, which I believe it is, we really should not see a downward sloping 30 WMA until silver has a much bigger move (if I had to guess, maybe after silver tests $50 we will finally get a 6-9 month downtrend that turns the 30 WMA down).
Ideally, on a weekly basis silver won’t close below its 30 WMA any time soon. This week the 30 WMA is at $27.11. So while this week and next week could see dips below that level intraweek, we really want to see that MA hold by the close this Friday and next Friday.
Realize with silver, it has to be one of the messiest commodities on a technical basis, so if there is any commodity that breaks the rules that generally apply to every other asset class on earth, silver is it. That being said, I truly hope, for my sanity, that silver will somewhat behave itself and give us a smooth (at least for silver) bull run.
“Realize with silver, it has to be one of the messiest commodities on a technical basis, so if there is any commodity that breaks the rules that generally apply to every other asset class on earth, silver is it.” You are absolutely correct about that Sir Nautilus. The reason, as we all well know, is the manipulation using the paper derivatives to overwhelm the markets at key times. That is why technicaals work in the long term and most times when the raids are not in progress. Thanks for your analysis on silver which has been valuable to us all.
The only RULE in the market is “There are NO Rules”
Rambus