What do we have here today. We opened at 0.90 which was yet another higher opening adding to my earlier assessment that we might finally be breaking out of our downward moving pattern. If you take a look at the chart and see the trend lines I’ve drawn, you’ll see that with today’s close there is a clear breakout visible. Tomorrow we need confirmation for this.
I’m not too happy with the fact that the higher opening of 0.90 was immediately the high of the day. Why? Well, for those who’ve already gazed their eyes on the silver chart below will know, silver made quite some progress today almost back over its 10 Moving Average.
Don’t get me wrong, sure I’d like to have seen Orko Silver trade higher today on silver’s momentum and looking at the rest of the junior market, most fared really well today. Sadly most of the stocks I’m following closed in the red so that sorta dampens the mood for me but all in all, even though we didn’t get past the 0.90 and closed in the red I’m still pleased with the results of the bigger picture.
We closed at 0.86 which is no big deal, 0.86, 0.87, 0.88, its all meaningless to me. Only thing I’m looking at right now is either a close above 0.90 or below 0.85. Those are the only things I’m looking at to see what this thing will do. Below 0.85 falling back in the downward pattern or above 0.90 which will add more support to the fact that Orko is looking to start another uptrend.
As you can see, silver is going at it again. The way it looks now I’d say silver will break the 10 MA line tomorrow and will make a run for the 17.00 again. If I didn’t know better,…the cards couldn’t be stacked better in the favour of gold and silver looking for higher prices. Gold has a similar bullish chart.
So, Orko Silver, for tomorrow I’m just gonna say it, this thing just
HAS TO GO UP
from here and close in the green! Else this bear must be shot on the spot! I’ll buy the shells if need be.
As always, take care, this bear might have some twitches left however, same as yesterday I’m already chasing this bear away in my thoughts so for me, it appears we are near the tipping point. Till tomorrow.
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