silver is going going gone, page-21

ok, cann that request, I can't go around asking people to draw charts for me.

My charts don't have enough data to post what I'm talking about so I'll use the information you have provided in your chart.

If you take trendline resistance across the tops of the candle bodies in 2004, 2006, 2008 you will find we broke above resistance at the end of 2010 but fell back through on back test with the next candle. After a routine correction we have now broken back above this resistance again. This is normal for price trying to break LT resistance as you know.

Your EMA's have turned back up, price is above the orange again and the upper bollinger has turned up after price bounced off the centre line. All suggesting more upside to come.

The only negative I see on the weekly at the moment is potential bearish divergence on the MACD. The MACD has yet to confirm a lower top though so until it does so, price is king.

Next I would expect another back test of the trendline and hold to confirm the break if the uptrend is to continue.

Cheers
Rhodes