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Like most people who end up with their own blog, I have become overwhelmed with the job of managing information. I subscribe to numerous feeds and literally swim as hard as I can just to stay up to date. Many people I know have asked about where I source my news and commentary and it becomes an awkward, unwieldy experience trying to encapsulate a cogent reply. So this blog is my attempt to point people to a single place where information I follow flows. My blog list is very extensive and I have tried to whittle it down substantially. I am also on the prowl for more blogs, therefore all recommendations will be highly valued! I have daily feed straight to this site some of my favorite content. Daily review of Mish Shedlock, Nathan Martin, Jim Sinclair, GATA, and Martin Armstrong are essential IMO and will be posted here. Also, I endeavor to provide weekly Technical Analysis of Gold, Silver, US Dollar, and select markets. I hope to provide some with an exposure to technical analysis, and at the same time hone my own skills. Also, I will be adding commentary to the daily feeds from other sources. In time, this will be the primary focus of my blog as frequent visitors will channel feeds appearing here directly to their own sites and will come here for either analysis or commentary. I hope you find some utility here and it serves you well out there in the Matrix!

Wednesday, April 21, 2010

Silver 20 April

3 Mo: "

via StockCharts.com

"

Silver is trending real nice within the channel. Support is being found at the 18 day MA. The Bollinger bands are starting to contract and indicate a trend change is coming soon. I believe we are likely to see a break to the upside with the previous high of 18.17 acting as resistance. The high of December at 19.00 is also a level resistance, so in reality a band of resistance is between 18 and 19. Since the Bollinger band contains price within it 95% of the time by design, the band provides resistance also. Support lies at the 18 day MA followed by the recent swing low at 17.25, which also is lying on the 61.8 % Fibonacci retracement line. A break above the previous swing high of 18.17 would be a buy signal in my book.
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