Silver - Massive Move On the Cards...
Oh boy, this chart of Silver, really gets me excited. Tension has been building up within a symmetrical triangle for 6 months now. A breakout (either up or down) out of the pattern is imminent. Such a breakout is expected to bring about a $5-6 move (that is nearly 50% of the metal's current level).
The resistance line is at 12.5, and a breakout above this level would mean that a move to 17.5-18.5 is on the cards. The support line is at 6.0, and a breakout below this level would mean that a move down to 6.0 is what the doctor orders.
Can't wait to see the resolution to this one. Our hunch is that an upside breakout will occur. This hunch comes from the impending positive centerline crossover on MACD. We'll be watching this one closely and will keep you abreast of developments.

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