jueves, 9 de febrero de 2012

Silver near a crucial point

I've been looking the Silver future for some days. I think the level of 35$ could be crucial for that precious metal.
In one hand is the top of a rectangular pattern that has 28$ as a bottom and 35$ as a top. If my appreciation is confirmed an objective of 42$ is in the cards.
In the other hand is if goes up could make a break up of a descending wedge. This scenario will be added to the other but the difference is that here the objective can be as astonishing 45$ near the maximum of the bubble top (as a lot of the media called it).
As usual if the price respect the level of the 35$ we will go on with that two scenarios and I'll go on out of this market.
As a reminder I can trade this market up with the single short ETF (SLV) and the double leverage (AQL). The short side can be played with the double short (ZSL)

The scenario in the Gold I think I can't do a better job than Peter L. Brandt in one of his latest post: http://peterlbrandt.com/the-two-sides-of-the-gold-coin/

Be awake!

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