Monday, August 20, 2012

Silver - Trade Management

Brief important update:  Silver had a nice breakout from the pattern that was identified and laid out in this weekend's update and the details of that post (which don't include any "Fluff" or "Voo-Doo") should be reviewed on the link provided below. 

The break would be more bullish if it was on above average volume, but these last two weeks of August are typically slow.  There was an increase in volume from the prior trading day.

Drawings for the "Trade Management" have been updated on the 3 month daily chart left hand side below.  Barring a catastrophic gap down, the risk is now quite small compared to the upside potential.

(Click on chart to expand)

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