Wednesday, May 25, 2011

Silver Request

Remember last night I said from what I see in silver, it looks like there could be a decent run, but a bumpy one.

 PSLV slightly negative, but better looking then SLV on the 1 min. The 3C pattern makes sense that we are seeing a consolidation in silver currently.

 The 5 min chart is in line.

 SLV 1 min isn't looking as good-you can see the intraday consolidation

However the 5 min chart is also in line.

Volume on the day looks to be running high this early in trade. As of now, I don't see any indication of a breakout one way or the other, but volatility is getting tight so we will most likely see a directional move shortly. I'll keep looking for any hints as to which way this is going to break.

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