We have just gone short SLV in our Wall Street Survivor account. The reason is the Bow Tie pattern. Landry “Bow Tie”, named by Dave Landry, with the sequential cross of the 10 (SMA) and 20 and 30 period averages. Often the first pullback becomes an opportunity to take trades in the new ‘trend’.
As you can see from the weekly chart below the 10 week MA has already crossed the 20 and is about to cross the 30. Also higlighted is the last occurence of this: July 2008.
Silver
