##{"id":59234,"date":"2011-11-30T11:43:34","date_gmt":"2011-11-30T00:43:34","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2011\/11\/30\/treasure-chest-momentum-has-turned-for-silver\/"},"modified":"2011-11-30T11:43:34","modified_gmt":"2011-11-30T00:43:34","slug":"treasure-chest-momentum-has-turned-for-silver","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2011\/11\/30\/treasure-chest-momentum-has-turned-for-silver\/","title":{"rendered":"Treasure Chest: Momentum Has Turned For Silver"},"content":{"rendered":"<p>\n\tBy Rudi <span>Filapek-Vandyck<\/span><\/p>\n<p>\n\t<strong>What?<\/strong><\/p>\n<p>\n\tSilver is currently trading near US$32\/oz but technical analysts believe a retreat is in the making.<\/p>\n<p>\n\t<strong>Background<\/strong><\/p>\n<p>\n\tThree weeks ago <span>FNArena<\/span> published a story about veteran trader Jeff Clark&#039;s observation that a Death Cross on price charts might be a portent for price weakness ahead for silver. (See <a href=\"http:\/\/www.fnarena.com\/index4.cfm?type=dsp_newsitem&amp;n=9012ECC8-F36D-95BF-B94CDEE0F89BE604\">A Death Cross For Silver<\/a>).<\/p>\n<p>\n\tAt the time, market analysts at <span>Oakshire<\/span> Financial had a similarly bearish view on the outlook for silver prices. <span>Oakshire<\/span> has again reiterated its negative view this morning. The reason for this&nbsp;ongoing bearish view is based upon technical analysis with recent price action providing additional confirmation that all is not well in the silver market, points out <span>Oakshire<\/span>.<\/p>\n<p>\n\tThe main signal responsible is a so-called &quot;Gravestone <span>Doji<\/span>&quot; which, in combination with falling <span>RSI<\/span> and <span>MACD<\/span> indicators are seen as a powerful, leading set of indicators.<\/p>\n<p>\n\t<img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/Silver_Oakshire.jpg\" style=\"width: 576px;height: 541px\" \/><\/p>\n<p>\n\tSimilarly, technical chartists at Barclays also hold a negative short term view on silver. Their analysis <span>centres<\/span> around the Japanese <span>Ichimoku<\/span> cloud which is seen as providing strong resistance at present price levels, forcing silver to retreat towards US$28\/oz, they predict. The good news is the chartists at Barclays would be buying again at that price level.<\/p>\n<p>\n\tThe next move higher will take silver to the US$35.70 range highs, predicts Barclays, but the route of least resistance will lead to US$28 first. Analysts at <span>Oakshire<\/span> believe the next point of interest for silver will be the long term moving average, now at roughly US$28.80\/oz.<\/p>\n<p>\n\t<strong>Technical limitations<\/strong><\/p>\n<p>\n\t<strong><span style=\"font-style: italic\">If you are reading this story through a third party distribution channel and you cannot see charts included<\/span>, <em>we <span><span>apologise<\/span><\/span>, but technical limitations are to blame.<\/em><\/strong><\/p>\n<p>\n\t<em>Find out why <span>FNArena<\/span> subscribers like the service so much: &quot;<a href=\"http:\/\/www.fnarena.com\/index4.cfm?type=dsp_newsitem&amp;n=29EB960D-9DFF-C00E-7F6B464E5D52E250\">Your Feedback (Thank You)<\/a>&quot; &#8211; Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FNArena&#8217;s Treasure Chest reports on money making ideas from stockbrokers and other experts. Technical analysts remain firm in their conviction: the outlook remains for a weaker silver price.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[17],"tags":[22],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/59234"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=59234"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/59234\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=59234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=59234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=59234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}