Silver Charts

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EconoD
Posts: 59
Joined: Fri Oct 17, 2014 8:37 pm

Silver Charts

Post by EconoD » Tue Oct 21, 2014 9:26 am

I've been messing around with the R software package, thought I'd share the results with you all (lucky you!) ;)

These are plots using daily close data from 1991 to the present 2014.

You can see some nice patterns emerge in the silver price vs gold/silver ratio.
silver_ratio_scatter_s.jpg
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EconoD
Posts: 59
Joined: Fri Oct 17, 2014 8:37 pm

Re: Silver Charts

Post by EconoD » Tue Oct 21, 2014 9:57 am

Here's the current silver spot price chart (monthly bars) from NetDania with some trend/support lines drawn on it with the volume at the bottom.

Things that I notice, massive volume when breaking the support lines at $26 and $18.20, it's broken the longterm down trend but is going to hit resistance at $18.20 level. If it breaks $18.20 expect a run up to the next resistance at the $26 mark. If it doesn't break $18.20 and I imagine fairly soon, it doesn't look good, looking for support at $15 as a first stop! However, it has completely retraced the massive move where it took off to almost $50, so that party is well and truly over now and everyone has sobered up. Where to from here?
AgMonthlyNetDania2014-10-21.jpg
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EconoD
Posts: 59
Joined: Fri Oct 17, 2014 8:37 pm

Re: Silver Charts

Post by EconoD » Tue Oct 21, 2014 10:12 am

Can anyone shed some light on the volume readings from NetDania, I think they are some sort of estimate, what is it Troy Oz, good delivery bars? But if they are anything close to representing, the LBMA good delivery bars spec here: http://www.lbma.org.uk/good-delivery-rules that is a massive amount of silver? A good delivery bar is minimum 750oz.

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