{"id":18665,"date":"2011-01-26T08:47:08","date_gmt":"2011-01-26T13:47:08","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=18665"},"modified":"2011-01-26T08:47:08","modified_gmt":"2011-01-26T13:47:08","slug":"technical-update-on-silver-2","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/01\/26\/technical-update-on-silver-2\/","title":{"rendered":"Technical Update On Silver"},"content":{"rendered":"<p><a href=\"http:\/\/static.seekingalpha.com\/uploads\/2011\/1\/26\/650046-129604896380957-lytman02_origin.jpg\"><img decoding=\"async\" src=\"http:\/\/static.seekingalpha.com\/uploads\/2011\/1\/26\/650046-129604896380957-lytman02.jpg\" alt=\"\" hspace=\"6\" vspace=\"6\" \/><\/a><br \/>Hello <a href=\"http:\/\/www.laidtrades.com\/category\/commodities\/\" target=\"_blank\">commodity<\/a> peeps! From my last analysis on&nbsp;<a href=\"http:\/\/www.laidtrades.com\/category\/commodities\/silver\/\" target=\"_blank\">Silver<\/a>, I mentioned that there was a <a href=\"http:\/\/www.laidtrades.com\/chart-patterns\/head-and-shoulders\/\" target=\"_blank\">head and shoulders pattern<\/a> forming and the silver price could fall upon the said pattern&rsquo;s breakdown. A  few days later, it broke down and fell. From then on, silver continued  to drop from the said pattern and could still do so. However, profit  taking actions on short positions at the 26.50 support could occur at  the interim. Such then could lead into a temporary rebound in prices.  but if it further breaks below that area, its next support could be  25.00. Anyway, the immediate downtrend which I marked in the chart above  will nonetheless work as a technical hurdle to prevent any extension in  its rallies. Given this breakdown and the apparent swift in trend, I&rsquo;d  say that the bias now is to the downside my folks. It looks like I&rsquo;ll be  shorting this one on strength. But that&rsquo;s just me.<\/p>\n<p>By the way, here&rsquo;s my <a href=\"http:\/\/www.laidtrades.com\/2011\/01\/10\/silver-breaks-down-from-its-immediate-uptrend\/\" target=\"_blank\">post<\/a> right when silver broke down from its uptrend and here&rsquo;s the other <a href=\"http:\/\/www.laidtrades.com\/2011\/01\/17\/silver-losing-its-shine\/\" target=\"_blank\">post<\/a> when I mentioned the <a href=\"http:\/\/www.laidtrades.com\/chart-patterns\/head-and-shoulders\/\" target=\"_blank\">head and shoulders pattern<\/a> forming.<\/p>\n<p>More on <a href=\"http:\/\/www.laidtrades.com\/\">LaidTrades.com<\/a> &#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hello commodity peeps! From my last analysis on&nbsp;Silver, I mentioned that there was a head and shoulders pattern forming and the silver price could fall upon the said pattern&rsquo;s breakdown. A few days later, it broke down and fell. From then on, silver continued to drop from the said pattern and could still do so. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2011\/01\/26\/technical-update-on-silver-2\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Technical Update On Silver&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-18665","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/18665","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=18665"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/18665\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=18665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=18665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=18665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}