HPCsoYESTERDAY Posted May 10, 2011 Author Report Share Posted May 10, 2011 in hindsight, the GBP chart may be too recent (to call long-term anyway) there is also a longer term pre-2008 crash support somewhere nestled in-between: linear charting was superior long-term on palladium - i guess you should use both (log) and make your best judgement Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted May 10, 2011 Author Report Share Posted May 10, 2011 on the merits of log vs linear charting, it got me thinking about trying to incorporate both on the same chart. Obviously practically impossible to visualise, but perhaps using log markers on a linear chart? anyway, re. silver, the linear trendline looks like an irresistable support now don't you think? as with all monthly charts, there can be some big tails! Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted May 11, 2011 Author Report Share Posted May 11, 2011 A nice bounce in silver, but one thing that strikes me is that there is still quite a drop underneath it (as a consequence of the size & speed of the correction). It's important to stress that no one can predict which path silver will take should it break through the current support. However, should it wish to test the most obvious long-term support thereafter ($29ish by my reckoning), there remains a gap. I have no idea whether it will test that range; there should be good support in and around $34 (a double-bottom if you like). hmm, sometimes the you miss the most obvious things! whilst looking at the current support on the monthly GBP chart, the current support on the monthly USD chart is there for all to see. Now, needless to say this wouldn't be a 'long-term' support like all of those that exist between $29 through to $33. However, if we impose a palladium model target zone on the silver chart, you can see the most mundane way for silver to reach that target is to just carry on the path it is currently taking. Sure there is still great room for volatility, but if this current support holds true, we will see this narrow (and eventally attack resistance) throughout the summer. So, without doubt, the way forward is to watch that line and forget about everything else, unless it becomes relevant (broken). Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted May 11, 2011 Author Report Share Posted May 11, 2011 eur/gbp it's getting very tight now - if we get to 0.85, then the corresponding following action may be decisive: Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted May 12, 2011 Author Report Share Posted May 12, 2011 weekly & monthly silver chart updates: Looks like the long-term linear resistance (broken on upside) will now be tested as support - which needs to happen really, to see how strong it is: http://i1018.photobucket.com/albums/af304/triple-agent/agweeklymay.gif http://i1018.photobucket.com/albums/af304/triple-agent/agmonthlymay.gif Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted September 9, 2011 Author Report Share Posted September 9, 2011 selected charts... update from above model: Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted September 15, 2011 Author Report Share Posted September 15, 2011 The following chart of the natgas nymex contract is monthly (so pretty crude) which shows a wedge formation following the long decline since Q408: This is an interesting enough setup of its own accord, but i was scratching my head thinking where had i seen this before (http://www.housepricecrash.co.uk/forum/index.php?showtopic=98606&view=findpost&p=1761541)....... updated: pd never looked back thereafter, we shall see what happens with natgas Link to comment Share on other sites More sharing options...
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