Tuesday, August 16, 2011

Silver Short Soon...

 Earlier in the month I pointed out this 60 min positive divergence in SLV, since then it has gained some ground.

 This is a 15 min chart and a more detailed look, now there are hints of this current rally going negative.

 The 10 min chart shows this in more detail

 And the 5 min chart also shows it, so there's pretty good confirmation.

 Looking at ZSL, the short on silver, it has seen a recent positive 15 min divergence.

 The 10 min is positive as well

Back to SLV, the way it is trading today it looks as if an HFT is running it higher on lower volume, there aren't many natural pullbacks, I would be looking for an opportunity to short silver soon using ZSL. Perhaps watch the 50 bar average across the 1/5/10 and especially 15 min timeframes as a signal, you can check with me on the break of any of them. I'll also set alerts.

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