Disclaimer

Investing involves some degree of risk. Investors should inform themselves of the risks involved before engaging in any investment. I accept no responsiblity for your failures as an investor. Disclosure - Long physical Gold, Silver, and mining companies.

Monday, July 6, 2009

Silver Price Forecast for 6 July 09

When buying gold, silver, or stocks, you should have a specific price target set before purchasing. I will provide this price target model for you so you're not guessing which way the market is headed or which price to buy at. This price model is only to be used for one day as it expires at the end of the trading day. Watch as the prices cycles through some of the different levels. If the prices starts falling, you can reasonably predict a correct support level to buy at or a resistance level to short at. Also, look at the trading direction price indicator to see if the stock is going up or down. This will help you determine the resistance or support level to look at.

Resistance Level - 14.19
Resistance Level - 13.99
Resistance Level - 13.69
Pivot Point - 13.49
Support Level - 13.19
Support Level - 12.99
Support Level - 12.69

Trading Direction Price Indicator
UP: 13.84
DOWN: 13.34

***NOTE**** I purchased at 12.99 this morning using these numbers.

No comments: