Silver has certainly participated in the Metals boom of the last two years, but all eyes have been on Gold during its historic push to new all-time highs. However, Silver has outpaced Gold 136% to 86% over the last 20 months and could be on the verge of another major breakout opportunity. Let’s take a look!
Yesterday I wrote that we could see a major breakout opportunity in the Dow Jones Industrial Average today – and we were rewarded with a beautiful 268 point move! Since I gave you my analysis for forecasting today’s breakout, I wanted to follow that up with how I traded the setup, essentially giving you the anatomy of today’s winning trade.
After last week’s price action, the Dow Jones Industrial Average has strung together two sessions of yawn-inducing trading activity. However, the Dow could be on the verge of a major breakout opportunity. I’ve got three reasons why.
With the recent retracement in the S&P 500, talk of the developing head-and-shoulders pattern is likely to take center stage once again. Since the pattern forecasts a target of 860, it doesn’t hurt to take a look.
The E-Mini NASDAQ 100 futures contract is in the midst of a three-day pull-back after topping out at 1,940 earlier this week. However, more selilng pressure could be seen ahead – at least that’s what my Modified PEMA Crossover signal is telling me.
