Silver Futures 1/16/12

Silver prices are continue to reward our move to a neutral or flat stance from a previous sold short stance. We are now watching for the next sufficient trend cue -up or down. 

Prices are starting to push above the weekly chart's downtrend. 

Daily bars are out of the downtrend channel and have been edging higher.  A break below recent lows would cause me to go short again.  I'm not looking to go long yet.  Let's see how this thing forms from here. 

Moving average envelopes show a mixed trend picture.  Silver prices are still trending downward according to the weekly chart.  Daily bar chart action shows silver prices in an intermediate term uptrend.  


RSI is in downtrend mode on both charts.  

Dynamic Trailing Stop is in downtrend mode on the weekly chart and uptrend mode on the daily. 


My most refined automated medium to long term system (still in development and testing phases) is flat the silver market. 


Current Stance
Long Term: Flat
(comments here are about trading liquid markets, and do not relate to any views we have regarding the holding of physical gold and silver).

Intermediate Term: Flat

Definitions: 
Flat = no position / not long or short the market. 
Sell Short = positioned to attempt to make money on price declines
Buy / Long = positioned to make money on price advances
Hold = hold a long position
Hold Short = Hold a short position 

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