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Where is Silvers bottom?

PostPosted: Thu May 05, 2011 7:10 pm
by slickeast
When will it stop? What will the low be on this dip?

Re: Where is Silvers bottom?

PostPosted: Thu May 05, 2011 7:22 pm
by Country
Although SILVER is at the 100-day moving average right now, after we get a good bounce to relieve the oversold condition, we will have some more downside pressure. I think SILVER could test the 200-day average around $28 sometime this summer. There's a lot of cross currents right now. Too hard to get a good feel currently.

Re: Where is Silvers bottom?

PostPosted: Thu May 05, 2011 8:20 pm
by Investin Cents
Wow. Not a poll option above $30 huh? So this combined with yours and Country's comments mean "wait for it to hit $30" huh??? :?

Re: Where is Silvers bottom?

PostPosted: Thu May 05, 2011 8:36 pm
by fb101
I second Country. we get a bounce back near the 50day ma around 35 and another leg down to about 27. I consider we could go as low as 22, but I don't expect it. - There is also Strong support at 30 so we could hold there and put in a double bottom.