Enter your email address:

Wednesday, April 13, 2011

Silver Market still on a Bull Trend

Anthony Neglia of Tower Trading says that he is still bullish on silver he will get it bearish though if the silver goes below the mark of $38 : I don't think it's necessarily overbought. We did have some short covering. Coupled with some new buying got us to that the short covering rally got is that overnight high on Sunday night. Of $ 4190. We have backed off considerably since then. But the market is still in a bull trend I get a little get a little bearish below 38 dollars if you remember thirty dollars was that point where it had a little difficulty getting through but once it got through. Made a very nice move well you know above forty dollars and beyond. That you saw that overnight high from Sunday night. ". "I would be backing off the longs I don't know if I would get necessarily short here I know a lot of people are a lot of people are betting on this thing 200 day moving average is about 25 dollars which is fifteen dollars away. But I don't necessarily see. But I can't see a change at 38 dollar level and then I would have to reassess. You know from that level. Below it I'd be a little bearish. and you know if it remains above 38 dollars you know I'd like to pick a spot there and buy it


Popular Posts