www.scottpluschau.blogspot.com
I have received requests for commentary on silver. The pattern in silver is very similar to gold. There is a baleful "Descending Triangle". Below is a weekly chart of silver. Weekly charts in my opinion are the "Ace of Spades" in charting, meaning nothing over rules them, not even the monthly chart.
I would like to load up on some silver eagles/maple leafs, so a breakdown and follow through in the triangle will be welcomed by me. I also have no issues shorting silver in the smaller degree timeframes to pay for those eagles/leafs upon this development. Right now we are approaching MAJOR support.
Would it be a better idea to pay attention to the "experts" on the "fundamentals" or should we develop a trading plan based on the truth of the auction? The fundamentals always come out eventually. I prefer sticking to my trading "rules".
(Click on chart to expand)
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Source: Silver is approaching MAJOR support:
