The focus of the blog is on the economic and financial uncertainties that the world economies will face over the next five years along with demonstrating how investors can profit and survive during the upcoming manipulated economic chaos. Please keep-in-mind that I don't provide investment advice. I am simply posting what my investment views of the market happen to be. Your investment decisions are solely your own responsibility.
Friday, September 23, 2011
Panic Selling in Silver
$34.61 was the 200-day EMA for $SLV on the daily chart, which was suppose to provide some support. However, $SLV is now trading right at $30. What is significant about that price? According to the long-term Point & Figure Chart for $SLV, $30 is right on its "Bullish Support Line" that goes back to 2009. If that support does not hold, $17-18 might be the next support levels in this stage of panic selling.
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