Today In Silver

We are very fortunate to have access to the technical expertise of Eidetic Research over at Metal Augmentor. Going forward Eidetic has informed us that we will receive shorter-term technical analysis that is frequently updated in addition to the big picture technical reviews that we are so fortunate to receive every few weeks or months. This is very exciting and we feel it makes the Metal Augmentor service a must-have for any investor interested in not only the metals but other markets where big profit opportunities exist.

Here is a bit more information about Eidetic Research for those who do not fully appreciate what this recent development really means. Eidetic is a highly-respected institutional level technical service that is of a quality rarely if ever made available to the investing public. Indeed, we don’t think any retail-oriented technical analysis even comes close. Moreover,  we firmly believe only a small handful of institutional technical analysis, costing thousands of dollars per year or more, can hold a candle to Eidetic. Fortunately this is not well recognized at present simply because there isn’t much of Eidetic’s work in the historical public record to examine. We say “fortunately” because otherwise Eidetic would probably not be available to investors such as Metal Augmentor subscribers. In the future should Eidetic decide to start providing technical work to institutional investors again, we are hopeful that Metal Augmentor will be able to negotiate an ongoing arrangement with Eidetic.

From time to time I will reprint the silver portion of these technical updates here at SILVERAXIS in the hopes that those of you who are on the fence about joining Metal Augmentor as a Founding Member will finally get a clue. If you do wish to join, go to the Metal Augmentor home page and add your name to the mailing list. Any day now we are going to open the service to new subscribers and if you are on the mailing list you will be among the first to find out.

So here is the latest silver excerpt from Eidetic Research:

Silver – Jly

All trends are up. Resistance 19.50 – 19.90, then 20.35 – 21.50. Support maybe 18.90 plus/minus; more probable 18.60 – 18.26. Upside potential a test of major resistance above 20.00 that defines the March 2008 intermediate-term top. Ongoing rally development from the early Feb low at 14.775, basis the active nearby futures, reached a new high Thur at 19.865. Gains were lost by the close* which established a small top reversal range. Some followthru weakness on Fri, including range expansion, suggested that short-term buyers may be running out of nerve. Rising daily stochastic values are near 80, a level generally considered “overbought”. Look for some two-sided consolidation between 19.00 – 20.00 on Mon-Tue.
ER 5/16/2010

Please note that for analytic purposes we use the Globex afternoon close at 5:15 pm ET as our Comex closing values rather than the official Comex settlement. In our view, it is absurd to consider a 1:30 pm ET official settlement as a legitimate close when other major futures markets such as Chicago treasuries and forex trade for hours beyond the Comex settlement times.

Disclaimer: Futures and options are inherently risky and should only be considered by highly risk tolerant investors. You can loose more than the amount invested and sometimes even more than the amount in your brokerage account so it is critical to seek the oversight or advice of a licensed professional if you do not have extensive experience trading futures and options.

Don’t mistake the above for your typical broker or market technician drivel that you might have access to, this is the real thing and not otherwise available to you normally unless you are an institutional investor or bank trading desk and paying thousands of dollars for such a service. This is not some amateurish charting by a wanna-be, magic numbers, astrology or some other BS either, it is the result of decades of nose-to-the-grindstone professional technical expertise that has actual utility helping people make money in the real world.

If you want to thank me, just go and join the mailing list and sign up for Metal Augmentor so you can be alerted when we open it up again to new Founding Members. Now that our new system is almost ready to go, we are going to be kicking ass and taking names. What, you don’t want thousands of dollars in investment and technical research for almost nothing? It’s your loss (and literally somebody else’s gain).

silverax Technical Analysis