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

How to use home loans most effectively for tax benefits

1) Deduction on interest: If you are paying EMIs for a home loan you took to buy a house, the interest component in the EMI can be claimed as deduction. You must be both an owner and a co-borrower (in the loan) to claim tax benefits. This deduction can be claimed starting the year in which the construction of the house is completed. Suppose the construction of your house was completed on August 30, 2014, you can claim deduction for interest for the entire 12 months in financial year 2014-15. So every year a maximum of Rs. 2 lakh can be claimed for a house that you use for your own residence. If your house is rented, the entire interest for the year can be claimed as deduction. The interest payments for the year shall result in a loss under the head 'income from house property'. This loss can be adjusted against in the same year against other heads of income in your income tax return including salary. Therefore, it reduces your total taxable income and the tax you pay thereon. A...
2 comments
Read more

Communist party launches 'China Operating System' to oust iOS and Android

hina officials have launched a national operating system in an attempt to take back control of the country’s computer market from American companies such as Google and Apple. The software has been in development for more than a year, but has been released at a crucial time with revelations about US-led surveillance sparking fears over the integrity of American-designed software. Known simply as the China Operating System, or COS, the software can run on PCs, tablets and smartphones and has been based on the open-source Linux operating system. Chinese media say that the OS has been created “entirely independently” in order to provide better localization for a range of features – from Chinese-language keyboards, to integration with the country’s banks. At the launch of the event, one of the developers involved with the project reportedly criticized Western software , saying that Apple’s iOS was too closed, that Google’s Android OS suffered from fragmentation (ie, too many versi...
Post a Comment
Read more