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Subject:  Re: Gold - Updated TA Date:  8/27/2012  3:15 PM
Author:  CM001 Number:  41160 of 41566

I do have a short position in silver that is at a moderate loss as I shorted at 26.89 expecting an imminent breakdown below the $26 support level, but it looks like I am going to get stopped out this week. Fundamentally, I'm surprised to see silver hold up this well given that it is an industrial metal as well, but depending on what happens the rest of this week, it may break above the downtrend line off the $50 top of April 2011.

Silver moved up by another 10% and now it is trading above 200 DMA. I assume you have closed your short. I think it will move sideways or trade down a bit to consolidate such a strong move in a weeks' time. Will you go long now?
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