2006-12-05 13:29:29 · 2 answers · asked by j. a. prufrock 2 in Business & Finance ➔ Investing
by bottom do you mean Troy Oz? Rite now an ounce of Silver will cost you around $14.00.
2006-12-05 13:41:31 · answer #1 · answered by dkwr14 3 · 0⤊ 0⤋
Are you saying where there is major support for the silver price so that it will stay above said price?
I've been trading silver for the last 5 years and use technical analyis:
Over the period of the current gold / silver bull market that began in 2001, both metals tended to move in phases of consolidation or correction(sideways in a trading range), and rally phases. When rally phases began out of correction phases, the high of correction phases tended to be the low of the next correction. Sometimes, that was less true in silver since its rallies tended to be very powerful. The last correction had a high of $8 and the current low of the current correction is $9.5 or so. So, it didn't quite make it down there unless it may still try. However, I strongly believe we just started another rally phase in gold and silver based on my trading signals. If that is right, which will be proved by a new high over $15 with a 3% margin, than $15 will be the new bottom. We closed at $14.02 today, so $1.45 ($15.45) to go!
Hope that helps.
2006-12-05 14:34:08 · answer #2 · answered by Ryan W 2 · 0⤊ 0⤋