Thought I would start my own personal thread on here on what I see on going on with SLV and GLD. I'll try and keep things more relevant and current (after this first post) because its always easy to look back at hindsight. Again just to let everyone know I'm a 95% technical trader. On the 28th I saw many people (on a another forum site I follow) celebrating SLV pop on the 28th. I told everyone to be careful it looks to me that it need to pull back. My two reasons to why I thought it needed pull back: are in the picture below. I have more up my sleeve as to why I saw that.
I have done those candlestick charts long ago. By hand. Mainly because there were no computers to help us do that automatically at that time. From your chart I can see that the last price rise was red. That normally indicates a weak market. The price started higher than the previous day but fell during the day. If I have open long positions below that level, I would close them and take whatever profits I can.
