 CHARTWORKS
- May 6, 2011
Silver & HUI – Ready for a Bounce
Technical observations of RossClark@shaw.ca
Bob Hoye
Institutional Advisors
Posted May 16, 2011
The following report was published for our subscribers May 6, 2011.
Silver has given up 40% of the 30-month rally in just five trading days. We should look for a recovery of 38% to 40% of the $16 decline. This targets $39 to $40 as resistance.
(Click on images to enlarge)
The HUI is straddling the 21-week moving average and also eligible for a bounce, however the best support is at 470.
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May 6, 2011
-Bob Hoye
Institutional Advisors
email: bobhoye@institutionaladvisors.com
website: www.institutionaladvisors.com
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