What is the probability of an earthquake in the land of Silver?
The short answer is 50/50; but the probability is growing; and for us to get a handle on the psychological state of the silver market we need to turn to the charts (courtesy stockcharts.com) The first – and arguably the most important chart given the recent negative votes elating to the EU Constitution by France and Holland – is a chart of the Silver price divide by the Euro (effectively the Euro Price of silver). Buy signals were given by all three of the price, RSI oscillator and MACD oscillator during the past week. The reason the probability of an Earthquake is still only 50/50 is that the following chart – again desensitised to exclude trading static – has not yet given a full blown buy signal. Further, should it do so, the upside target based on horizontal count technique is still below the 2004 peak. But it needs to be a subject of focus that the Euro price of silver is function of two numbers; viz the dollar price of silver and the Euro exchange rate. If we look at the dollar p
