Silver ETF forms bearish chart pattern
Silver ETF (SLV) printed bearish stock chart pattern on weekly time frame. As you can see from enclosed chart – head and shoulders chart pattern can be found there.
And this type of pattern is bearish. Current levels could be good place to open aggressive short entry in this commodity ETF stock. I did it already in my fund.
August 28th, 2009 at 10:44 pm
I like this idea. Especially since the US$ is at a support ares.
Cheers,
Dan
August 29th, 2009 at 3:50 am
yes thanks to information,but your info not complete….
September 7th, 2009 at 12:35 am
Thanks, very helpful. Looking forward for your next analysis.
September 13th, 2009 at 1:03 pm
Looks like you got this one wrong. Silver has gone up up up. Any idea why your analysis was wrong?
September 19th, 2009 at 12:37 pm
You are right. bearish scenario did not worked. But my stops worked and therefore my loss was minimal. I will post my view to silver on blog soon.
richard
September 22nd, 2009 at 11:06 am
[...] did not realized my bearish scenario and instead of this it did bullish breakout. You can see situation on chart [...]
November 25th, 2009 at 6:50 pm
[...] did not realized my bearish scenario and instead of this it did bullish breakout. You can see situation on chart [...]