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Wednesday, February 9, 2011

Silver - Possible top building

We are currently testing the possible channel-top again. Every time this resistance has been tested a set-back has been seen.

Zooming in on the long term picture to the last part of the rise (see the chart below). We can now see a possible "Shoulder/Head/Shoulder" top. This formation will only be activated by a break below the neck-line at 26.65. If this possible top-formation proves to be valid a break below 26.65 will mean a decline towards 21.27-21.50 area.
A break above 31.22 will invalidate the possible top-formation.



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