The patterns in Silver on 1/4 suggested that very strong resistance was at hand and at a minimum it would be prudent to establish very tight stops to protect current values. (see post here) Due to this key resistance, many blog viewers are “scoring on defense” by owning ZSL. I have received numerous emails asking where Silver might find key support. See below for pattern thoughts…
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Game Plan….For those scoring on defense in ZSL, keep a 8% stop in place. If the decline becomes dramatic or picks up a ton of speed I will update this chart.
Chris,
If the chart is extrapolated into 2015, how high does the channel go? The chart looks exponential, so I can;t tell at what price level(s) the channel would be at that point..
Thanks!