Special Note about Silver

This is really a special note because I'm not writing about gold here.
Instead, I'm talking about Silver, because I can't stand not to mention it in my blog with all this perfect technical conditions.

I've been waiting for some days for this moment. I really think that this is the time to go long with silver.
Just look at those all technicals in the Daily chart above.

1. RSI and William Percent Range are in the extreme oversold area and begin to move up.
2. The price has touched it's trend support (I'll call it minor trend support) which has been proven as a strong support that makes the price bounce back several times since beginning of Nov 2012.
3. There's a doji (morning star) in the daily chart.

Let's take a look a little bit further in the following weekly chart:

It's even clearer when I look at the weekly chart.
Silver has touched it's 2 years support area, which has been formed since Jan 2011. Look at that grey box and look at all the arrows I put in the chart. I surely say that it is a really strong support.

I personally has opened my long position with SL at some points below grey box area. My first target is 28.3, the second target is 29.8, next target is 32, and my last target is 35 which is my highest expectation that Silver can go this year.

Other scenario, if Silver ever breaks the grey support, then it might be a real big drop up to 20 area.

Just put on your SL and good MM as the safety devices. We will see if my guess is right or wrong in several days ahead.
Have a nice weekend.

GG - 2013 04 05