I have not looked into Silver at all. I believe it to be a market that is still manipulated to some extent. There is usually a net short commercial position in Silver which is suspect to me.
out at 1295.00 for now. market too enamored with 1293 in my view. 1.75 pt profit.--Need to be away from screen for a bit--probably miss a big move--can't have everthing.
it looks like your stop will be triggered, though more to close gap than reverse from here...not sure though EDIT: and down we go for a point or 2 11:05
I do see buyers getting more interested now EDIT: I have a buy signal on my secondary system @ 1296 level
ya...but that depends on the definition of 'longer term', for today at least, so far, I have a buy signal in the secondary, nothing in the primary. Also, with no clear daily range so far, 1-2 points is a result in my opinion.
Yes I agree- the signals are not entirely clear today. One of my rules of ES is that it seldoms tests the same support or resistance more than twice in sucession without breaking through or reversing. I have modified that from the 60 minute chart to include any time frame. Yet, I did not take that signal at 1293 earlier today . I covered at 1295. I'll have to be a little more bold with that in the future. In any event though, we have already seen one attempt today fall short of the 1300 target that bulls want so desperately to break back through quickly. I expect more of these.