Wednesday, October 21, 2009

Orko Silver Chart October 21, 2009

Orko Silver Daily Chart
Orko Silver Chart October 21, 2009
Chart is courtesy of marketclub.
Marketclub - Orko Silver Corp. Trend Analysis.

I'm really sorry, I don't have that much time to do a real detailed chart today. I just took a bit longer working on my Fed Black Book article and unlike the office guy in the other article I am worth every penny they pay me so I really should go to bed so today is going to be a quick one then.

As you can see from the chart, today definitely qualifies as a breakout from our downward going and tight-held pattern. Chartwise that is. I still need the share price to make a run for the 100% Fibonacci line which of course corresponds with the 1.04 from a little while ago. When you draw Fibonacci lines you in this case have to start with the low of the earlier upward march to the latest high.

I am however very confident that that will happen. Why?

Today the US dollar broke support around 75.21 and went as low as 75.00 and the way from 75.21 to 72.00 is all open now. It is only a matter of time now before we get the 72.00 on the boards. Now its no more a matter of if but rather of when?

So today, Orko closing at 0.980 +0.040 (4.26%) was very welcome and tomorrow we should see a continuation of today's action however preferably with some added volumes.

US Dollar Chart October 21,2009
US Dollar Chart

Can anyone say battlefield!

Johnson Matthey 1-Kilo Gold BarsThat the dollar broke support should sound like music to those who have golden or silver ears. I'd say the second kick-off event has started October 21st!

On to 1100 and higher for gold is all I can say about that and that goes the same for silver which should make and do a break of 18.00 in the coming weeks ahead. I'd sure like to see the forces joining hands to drive the dollar breaking support from investors minds around this globe.

As I'm writing this gold has already reached 1060 again and looks like it will easily reach 1065 by midnight.

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