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<p>[QUOTE=&quot;WingedLiberty, post: 1050277, member: 26030&quot;]technical analysis is chart reading technique ... a lot of stock analysts use it ...</p><p><br /></p><p>does it work 100% of the time? </p><p>definately NOT</p><p><br /></p><p>but it does provide a good guide (a good 1st guess) for predicting future prices</p><p><br /></p><p>consider this 5 year price chart of silver </p><p><br /></p><p>notice the peak price of $21 in 2007</p><p>and the low of $9 in 2008</p><p><br /></p><p><br /></p><p><br /></p><p>&nbsp;[ATTACH]103258.vB[/ATTACH]</p><p><br /></p><p>Technical analysis theory says that when silver breaks above the old high (of $21) </p><p>that it will go as far above $21 as it fell below $21 in the previous pull back</p><p><br /></p><p>The delta of the previous pullback is ... $21 - $9 = $12</p><p><br /></p><p>So the next high in silver will be the old high ($21) + the delta of the previous pullback ($12) = $33</p><p><br /></p><p>So the price target of silver in this bull run is $33 (sorry I think i said $32) ... So lets say between $32 and $33</p><p><br /></p><p>I actually took a class in technical analysis back in 1999 and have used in in the stock market for 11 years.</p><p>i can say it does provide some good guides, but is not foolproof.</p><p><br /></p><p>It&#039;s just another tool![/QUOTE]</p><p><br /></p>

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