iCharts Discussions

[ajitg76]

First the long term futures contract from Comex from 1974
That shows you the all time high was at 42$. We are past that. In the long term a new inflationary
cycle should mean that whenever the next bear market for Silver occurs we will not go below
42. For long term investors that creates a new benchmark to measure risk. Only in a deflation
or credit collapse or credit war would that be a possibility. However in the short term being overbought
does not mean you wont get corrections. The second chart shows a short term channel and we are at
the upper end of the channel with the rally in wave 3 counting well as a 5 wave advance.
So a pullback to the lower channel and 20dma and previous all time high all at 42$ are a good support
and target for a correction.

[chetan83]

Excellent work Ajit,

From where did u get the chart of Silver Comex 37 years old!!! Really interesting to see that Silver is again hanging on to this level where it made high of $42 in 1974........hope no correction this time and we see Silver aiming for at least 1 lakh rupee by or b4 this year Diwali.

Regards,
Chetan.

[casper]

[rvg]

[S.S.]

+div in silver 30MTF

[vinay28]

Ajit, I am neither a trader in comm nor a TA. But one thought came to my mind and hence this post. I don't remember about 1974 but dollar-rupee rate in 1982 was 8 rs. and now it is 50.