Standard-Type ‘Blow Off’

Do we have the usual parabolic ‘blow-off’ move in silver (SLV), or have we entered into a new dimension, where it’s different this time?

From a traditional analysis standpoint, at this juncture (mid-session) it’s not looking good for the bulls.

Silver, SLV, just posted out-side down (if it closes here, or lower) and it’s met a measured move target from a terminating wedge.

In addition, as we’ll see in the chart, the current trendline is rising at approximately 5,600%, annualized.

That type of move can’t be sustained; that is, if we’re not in a ‘new dimension’. (not advice, not a recommendation).

Silver SV, Daily

From a traditional standpoint, targets have been met; the day’s action (so far) is ‘key reversal’, outside down (not advice, not a recommendation).

As always, the trendline could hold.

SLV, could also go to the stratosphere in a new paradigm, where nothing makes sense anymore … oh wait 🙂

Stay Tuned

Charts by StockCharts

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The Danger Point®, trade mark: No. 6,505,279