Cobra's Market View

Posted the lower chart a week or two ago... There was a turn date for Silver/Dollar around April 4/5th, thought it might be a trough for silver and crest for dollar. Now I am wondering if this lasts into next week...??? Thought we would see a trough in the market by tomorrow....

still 3 cents shy of the target. should be $139.66.

target met.

Mkt broke thru 20DMA now bears hold it and go lower.Lets see.

trend line support.

Cobra wrote:trend line support.

Bounced right off the trend line. Let's see if it can hold...

Cobra, do you think the short term trend has changed?

139.48 my first target.

Petsamo wrote:Since the DAX is down a lot, over 2%, maybe a bounce is not far off ?

Not sure about that but you had the prescient comment of the day yesterday:

1:00 pm
Someone has bad news

this support line from july of 2010 was broken in Aug of 2011. We then came back up through this broken support on March 13 and have been bouncing off of it ever since. If we go below this line it looks very bearish....

A scalping opportunity in hand; Waiting for improvement in RVI and/or True Strength Index.

TraderGirl wrote:this support line from july of 2010 was broken in Aug of 2011. We then came back up through this broken support on March 13 and have been bouncing off of it ever since. If we go below this line it looks very bearish....

This is about the 20 MDA which is major support.

houston we have a problem DAX broke the trendline

tigerwang9999 wrote:Cobra, do you think the short term trend has changed?

yes, of course.

Yesterday I posted that the /ES looked liked it needed another move down to touch the bottom support of the triangle, now it is trading under that support...

The leader

No bounce yet ,not good 4-3 a high 1419 ? Next date 4-13 could be low

I'd like to see a lower low after Europe closes in 20 minutes

UCO...

Ready, GO!