Tuesday, October 19, 2010

Silver finally got bigger PB looking for BUY spot

I think this latest sell-off in silver (or gold) is just temporary. Looking for good buy spot, but since this is the first time since late August 2010 where we have a series of LH and LL (two lower highs and lower lows in sequence on the 4 hour chart) we need to be careful as it defines a mini-downtrend on the 4 hour timeframe.

Here is my Elliott Wave count on weekly chart for potential roadmap for pullback:
4 hour chart show LH LL series (2 in row):