I am looking to fill a mini silver contract at 34.40 tonight and then sell again at 35.50 tomorrow. I will have a stop at 33.40 and once the contract breaks up over 35 I will move the stop up to 35... Lets hope we stay range bound for a while longer.
I'm betting on a Asian short squeeze tonight to take us into $36-$36.25 range that tops out around the 6:00-8:00 AM EST hours. Maybe silver will continue to be propelled by the shorts into the $36.50-$37 range from there once U.S. markets open.
We are still above 35 for tonights action. Silver does what it wants. Thus I shall wait to see what tomorrow's price range brings.
With that in mind, I agree with you that 36 is in this week's price range.
Dollar is strong tonight, gold, sliver and oil moving down on dollar strength.
Asia and European markets down, DOW futures down more than 40.
Right now, it looks like a down day Wednesday.
At the moment its a no mans land in Silver. Getting in here on a long or short is asking for trouble IMHO.
Personally if there is rally up to 37ish again without breaking 37.50, the short should go back on. If there is a fall then I'd rather just stand back and wait for further basing before committing into a long. I said last night that I caught a mini double bottom at around 35 which caused me to conclude the short i had on at that time. this however does not preclude that the double bottom will not be breached in the immediate term on any sort of volume. if getting into a position is absolutely necessary, i'd recommend a short position on a break of 35. all the best.
wow, this is different. Its really posh isnt it ? Also, its a bit
intimidating for computer dunces used to the old site like
me. Where's NCOT ? I 'm sure he's here somewhere. It's
a bit like leaving primary school, arriving at university,
but missing out high school. Quite a jump in other words.
Needless to say, I never went to university, so ignore that
comment. Right, I'm off to see where everyone is hiding.
Right here harf... been lurking in the chat room
JoeKa is bang on, no mans land right now..
Listen to him folks, trade in this area at your peril!