Skip to main content

Silver price forecast 2013, silver technical analysis for the non professional investors as well as for professional technical analysts

Silver has strong case for a price target $33/ounce in a few months and at least $45/ounce in 1 to 2 years. So comapred to current price, we have a potential of 55% profit. Indian can convert the above price into INR. 1 Ounce=28.35 gram.

Click on the image to enlarge. This is a 5 year chart of Silver ETF which
almost follows silver price.

After crossing above the blue trendline
around $19, it quickly went to around $30 and bounced down. Then bounced back from
around $26 level. From that time, since almost 2 years,
silver has demonstrated a very strong support at around $26(points w,x,y,z). It
also faced resistance at the red trendline. Now is broke out above the red trendline
(point a) and also confirmed the breakout (point b). However we have another
trendline at around $33 (points c,d,e,f,g,h,i) which is acting as a strong
resistance to silver price.
Investent Strategy: Accumulate around $30 levels and buy more
if it dips to around $25 level.
Copyright:  M K Munir , technical analyst .
Contact for advice at mkhalid77@gmail.com
http://drkhalid.blogspot.com

Also see:
Silver analysis -triple bottom -by Clive Maund - showing risk rewad comparison.

Comments

Anonymous said…
This comment has been removed by a blog administrator.
January 5, 2013 at 4:30 AM
Unknown said…
great post Dr Khalid, feel free to post at the Silver group on g pluss. Regards Alexander Sognefest
January 12, 2013 at 11:41 PM
SADIQ THE GEOGRAPHER said…
Very interesting chart !! great analysis alhamdolillah...
February 20, 2013 at 6:11 PM
Post a Comment

Popular posts from this blog

Best IELTS and English language training institutions in Hyderabad

IELTS stands for International English Language Testing System. As the name implies it is basically an English test for testing the proficiency of the language in an individual.  Training for IELTS can be taken to pass the IELTS exam or to develop good english language skills. I am giving the training institute addresses for Hyderabad. The test system is jointly managed by the British Council,IDP education ltd and University of Cambridge ESOL Examinations and more than 1 million candidates are taking the exam all over the world. The test has two versions : 1. Academic 2. General training Academic  version is for people who plan to continue their higher education by enrolling in universities in countries like US,UK,Australia,Canada,New Zealand etc.The academic institutions in these countries consider the IELTS score as a criteria for the admission process. General training is mostly for immigration purposes in countries like Australia,New Zealand,Canada etc. It may ...
9 comments
Read more

Great places to eat in Lucknow

  1. Idris Hotel Located Opposite Patanala Police Station, Chowk-  Officially the best biryani in all of Lucknow . They have the softest meat and the most divine aroma when the waiter brings the biryani to you! "Idris ki Biryani" as it is popularly known.. Here Is The Man Behind Creating This Magical Biryani-the son of Idris ji Source: yummraj.com 2. Tunday Kababi Located in Naaz Cinema Road, this legendary place has the best  mutton korma with sheermal-  the gravy is so rich in flavors, you want to just take an eternity while eating every bite! Source:  www.the-south-asian.com 3. Royal Cafe Located in  51, Hazratganj- This place is famous for it's basket chat.  Aloo tikki, dahi bara, matar kulcha are some of the dishes one must certainly try and  they are hygienic as well . ( they seve gol gappas made wit mineral water) Source: coralswithblues.com 4. Kool Break Located in 17...
1 comment
Read more