1. Because it has not had a new low in 5-days AND 2. The time of the recent "Time at Mode" sell signals have expired AND 3. The market is back above the lowest, largest mode from the decline AND 4. The RgMov "trend line" is at a 2-month high (and not a 2-month low). 5. Recent "range expansion days" highlighted with blue-triangles are up-days.
This analysis is best done day-to-day so you can see how the market is accumulating or distributing.
For now, the silver market is extremely ACCUMULATED. Any dips will likely setup very low risk entry points for long positions.
Cheers.
Tim 2:36PM EST 3/23/2015 16.946 +.238 (+1.43%)
(VOTE "THUMBS UP" if you'd like to see me publish the SILVER CHART EVERY DAY)
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timwest
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I wish I had been publishing every day so you can see how this move up in Silver was set up. I find myself just looking at this chart of silver - it is very interesting when you get multiple range expansions to signal it is "off to the races". It reminds me a bit of the train leaving the station - I don't know if it will slow down to let anyone on board. In other words, I wouldn't wait around for dips because it may just trade sideways to higher, grinding up as bidders sit just underneath the market hoping to buy on a decline. I'll check the short positions and the small trader positions next to see where they are positioned.
IvanLabrie
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Risk/reward wise it looks optimal, even for a market buy heh.
GcNaif
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Thanks Tim
HamedAghajani
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Thanks Tim, Great analysis
parthiban.p
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Good Analysis Tim.. Keep it up...
IvanLabrie
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This is amazing Tim!
Keep up the great work, you're an inspiration and a great person.