Silver... support levels?

[MARKETWAVES]

Can these

[MARKETWAVES]

SILVER .............

What a posture ..............


Can anyone say .... Ascending Triangle ?

Well , that what it looks like if this starts holding up this week ...

Will it hold ... I don't know ,,,,


I am merely attempting to show where significant support and resistance lines are .....

..... These lines work well only when they are tied to certain Elliott Wave structures and certain Fibonacci Retracement levels ..... outside of this they become less reliable...... a whole lot less reliable .
This is exactly the reason why you could never back test a particular stock or commodity for these lines without these 2
basic theories of understanding. NOT ALL CHART PATTERNS ARE TRADEABLE .
(This depends on your trading strategy or trading style )



TRADE AT YOUR OWN RISK… The purpose of these charts is to point out significant highs and lows based on Fibonacci Retracement lines and Elliott Waves which are highly subjective . This information is for educational purposes and should not be considered trading recommendations . All trading decisions are your own sole responsibility …

[MARKETWAVES]

PG-2............

[DTM]

Market,

interesting behaviour by silver over the last few years. A huge penant being formed and the pressure is increasing exponentially. Looks like it will shoot up short term but long term, it looks to be driven by speculation and doomed to failure. Its showing too much divergence for me to think that it will go up and stay up. Interesting implications for Gold and the USD. I've drawn gold in and it seems to follow gold's movement closely. I had to go the monthly charts to be able to see things more clearly.

Just my opinion. :2twocents

[salz]

May I know what is the uses of Silver in industry or as a commodity??

[bvbfan]

Silver is used primarily in old fashioned photography in developing the images, a lot of concern was that silver usage would drop, but I think that it will be absorbed into other areas

Silver statistics (http://minerals.er.usgs.gov/minerals/pubs/commodity/silver/)
more silver (http://www.webelements.com/webelements/scholar/elements/silver/key.html)

[Smurf1976]

May I know what is the uses of Silver in industry or as a commodity??
In addition to film (non-digital) photography which is a substantial use (although much of this is recycled which is highly significant from a market perspective - the actual consumption being lower than would at first appear) silver is also used in burns treatments in hospitals, jewellery and for the manufacture of electrical contacts and in electronics. It is also used to make some types of small batteries. Even your computer keyboard contains a tiny amount of silver.

Silver has potential major application in water purification and possibly in electrical power transmission since it's more conductive than the alternatives which reduces losses in transmission. (Depending on your location, a few % of the electricity generated in major power stations is lost in transmission and by the time it gets to your home in the suburbs around 10% is often lost. In some situations this can go much higher (over 20%) although if you live next door to a major power station then it's going to be a lot lower...). :)

[MARKETWAVES]

SILVER ....... 8-19-05

Now this is a base ....

This is what trading is all about ......
finding sound bases or so called consolidation ......

will this hold up ?

only time will tell now ......




TRADE AT YOUR OWN RISK… The purpose of these charts is to point out significant highs and lows based on Fibonacci Retracement lines and Elliott Waves which are highly subjective. This information is for educational purposes and should not be considered trading recommendations. All trading decisions are your own sole responsibility …