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Silver about to rally 10%…Update from one month ago as it breaks above it’s flag/pennant pattern-
Monday, August 20, 2012 10:10
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The chart below was published one month ago (see post here) reflecting a pattern that was suggesting Silver could rally 10% in the short-term.
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Silver was trading at $27.07 at the time and now is trading around $28.50, up over 5% in the past month. The chart below reflects a short-term upside breakout is SLV.
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The move above the flag this morning is a good sign for SLV in the short-term. Falling resistance, that looks to be the top of a descending triangle, remains around 5% above current prices.
2012-08-20 10:01:56
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