Monday, May 20, 2013

Silver ~ 20 May 2013

Silver hit the strong support area between 19.5 and 21 with a 10 % crash to 20.25 right after the open on Sunday:

Since then, we've seen a huge rally and silver is now up 12 % since last night. This could very well be an important low. The last time we saw such a big reversal was in September 2011. Back then, silver rallied 15 % over the next few weeks. If we got a 15 % rally again this time, we would see 26ish.