TA of AYN - Silver-Gold 01/09/2012 ---------------------------------------- Last night Gold managed to pass its recent peak as we can see it had a pull back after it broke the resistance line.
Silver also followed Gold and we could say that Silver breaks its resistance line too now. We should see both of them flying again.
AYN also corrected 61.8% of its recent upward wave. AYN touched the 20 Days exponential Moving Average (EMA) which could be a support for price. We should see AYN starts its 3d waves as it might finish its 2nd wave.
In this last picture we can see both Silver and AYN price in one diagram. As we see clearly AYN price has very direct dependency to Silver price. But interesting is that when there is a 10% movement in Silver we would have more than 40% increase in AYN. Last movement Silver starts from 26 and went to 31.2 (20% gain) but AYN started from its bottom at 0.032 and went to 0.063 (more than 96% gain). So we could have more profit in investing in AYN rather than Silver itself if we believe that Silver price will continue to rise (and of course there will be more Risk involved too for obvious reason)
AYN Price at posting:
2.9¢ Sentiment: None Disclosure: Held
