Friday, February 17, 2012

Silver Update

Yesterday was a Ceres-Venus conjunction at silver's 72° harmonic discussed here. So far the low appears to be holding. It came in almost exactly 1 hour after the conjunction, which occurred at 4:54am Pacific time.

Silver 1-min Chart
This is reminiscent of the recent Natural Gas bottom which also occurred 1 hour after its nominal reversal time.

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2/18/2012 update

Markets are closed on Monday, and Tuesday there is a New Moon near a silver harmonic which could produce another turn.

2/21/2012 New Moon (Geocentric) and Silver's Pentagram
Thursday's bottom was about 9 cents shy of a 23.6% retracement from the high and we typically see a little follow through below the retracement levels so it is reasonable to expect another dip down. A 38.2% retracement would be more common. Tuesday's New Moon provides the right opportunity if this is to happen.

Silver 1-hour Chart
The New Moon occurs at 2:35pm Pacific time on the 21st.

4 comments:

  1. Thanks for continuing to update these important forecasts. Nat Gas low was amazing. I'm looking at your cit on 3/5 - silver's 72 jup - for a high.

    ReplyDelete
    Replies
    1. Thank you Buffee :)

      I agree with your assessment for 3/5.

      Delete
  2. Platy

    1390 SPX Target

    http://markethighsandlows.wordpress.com/

    ReplyDelete

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