Some of my forecasts
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I'm posting SJD's question from another thread as a reminder to get abck to this Q. I'm getting ready to leave for the day.
Quote:
"Originally Posted by sanjosedesi View Post
Pips, a question for you. I see that you have other threads for currency and general technicals. but this is not related to any, so I am not sure where I should ask this, but since you check all these threads, here it goes ...
I have been watching the up move of silver. Until recently I did not think anything was out of ordinary. But last 2 weeks ... wow!! To me it seems like a bubble land and ready for correction. Although I have been thinking that for the last 3-4 days with not much luck. On your blog, I see you put the R3 as 44.1172. Is that weekly? If you look at the monthlies / yearlies, do you agree with the prophecies by many that silver at 50 might be too cheap in a few months?
My personal thought ... signs of a bubble, but not sure whether it has 1 day to go or 1 year to go, but price will go up and return back to at least these levels in less than 2 years."
Quote:
"Originally Posted by sanjosedesi View Post
Pips, a question for you. I see that you have other threads for currency and general technicals. but this is not related to any, so I am not sure where I should ask this, but since you check all these threads, here it goes ...
I have been watching the up move of silver. Until recently I did not think anything was out of ordinary. But last 2 weeks ... wow!! To me it seems like a bubble land and ready for correction. Although I have been thinking that for the last 3-4 days with not much luck. On your blog, I see you put the R3 as 44.1172. Is that weekly? If you look at the monthlies / yearlies, do you agree with the prophecies by many that silver at 50 might be too cheap in a few months?
My personal thought ... signs of a bubble, but not sure whether it has 1 day to go or 1 year to go, but price will go up and return back to at least these levels in less than 2 years."
Gbp/chf
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As per request:
As can be seen on the chart the WS3 has been hit, and price has gone sideways on top of it.I am expecting an eventual reversal that should be in the form of a correction, only. The daily TL was broken at circa 1.4814, so that would be minimum expectation on the recovery. Price will accelerate around 1.4718. Until then, there is no guarantee the WS3 won't be broken before we get the correction.
Uploaded with ImageShack.us
As per request:
As can be seen on the chart the WS3 has been hit, and price has gone sideways on top of it.I am expecting an eventual reversal that should be in the form of a correction, only. The daily TL was broken at circa 1.4814, so that would be minimum expectation on the recovery. Price will accelerate around 1.4718. Until then, there is no guarantee the WS3 won't be broken before we get the correction.
SJD, The red lines are always my weeklies, so yes, in response to your question, 44.12 is my WR3
The yellow lines are my monthlies. On occasion, I've posted my dailies, and they are blue.
On to the forecast:
This market is not giving up. Considering I never claim to know it all, this will be one of them. It is hard for me to pick a top. Definitely watch for a reaction at 42.49, which is my WR2, and 42.78, my MR3. It is this area that will probably yield a correction to the 4-hour kijun at 41.05.
As far as the bigger picture is concerned. The YR1 is 40.01, and we had a strong move through that after a very temporary stall. Watch for 49.34, which is the YR2 to possibly contain for a longer term reversal. That is still going to take a few weeks to develop.
A possible alternate view is allowing for the 23.6% mark of the YR1--YR2 to contain, which is the exact current price. Look for the spike to the aforementioned levels at 42.49 and / or 42.78, and then the reversal. A break of the 4-hour kijun will signal that the 23.6% mark did its job.
The yellow lines are my monthlies. On occasion, I've posted my dailies, and they are blue.
On to the forecast:
This market is not giving up. Considering I never claim to know it all, this will be one of them. It is hard for me to pick a top. Definitely watch for a reaction at 42.49, which is my WR2, and 42.78, my MR3. It is this area that will probably yield a correction to the 4-hour kijun at 41.05.
As far as the bigger picture is concerned. The YR1 is 40.01, and we had a strong move through that after a very temporary stall. Watch for 49.34, which is the YR2 to possibly contain for a longer term reversal. That is still going to take a few weeks to develop.
A possible alternate view is allowing for the 23.6% mark of the YR1--YR2 to contain, which is the exact current price. Look for the spike to the aforementioned levels at 42.49 and / or 42.78, and then the reversal. A break of the 4-hour kijun will signal that the 23.6% mark did its job.
On a lot of the requested markets, it would seem I'm a little vague. This is because the directional bias does not jazz me either way, so in the case of silver, I have to give on the views, which of course means divergent views.
The opposite case was evident when I gave my views concerning the USD Index. It is very imminent of a very strong reversal heading north for that market.
The opposite case was evident when I gave my views concerning the USD Index. It is very imminent of a very strong reversal heading north for that market.
Munde, the reason I don't do Nifty dailies here is because I have been tracking it on a daily basis at Nifty Intraday Pivot Points. There has been good conversation concerning Nifty only. I would rather reserve this thread for markets in general, and a more longer term view, as opposed to daily.
Make a comment at Nifty Intraday Pivot Points, and you will be subscribed automatically. That way you will get an e-mail everytime a post is made there.
It's a very active thread, and I would like to see it continue.
Make a comment at Nifty Intraday Pivot Points, and you will be subscribed automatically. That way you will get an e-mail everytime a post is made there.
It's a very active thread, and I would like to see it continue.
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