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[tradermama]

Just thought I'd share the comment Merriman made in his webcast 7/11....He said that if silver is bullish it must take out 19.50 by the first week of August. If it stalls between 18.50-18.75 it's bearish. 18.52 was July's high.

I'm noticing a big gap up on slv to 18. Slv is still bullish on pnf too showing demand is still there and that target has been 27 for a while. But if it hits 19 you'll get a new bullish pattern and a new upside target. Merriman did call for metals to accelerate during the Mercury Saggi period till Aug 12th period. 18.25 area is resistance for Slv. But if it closes over 17.72 it will be a buy on Jackie's Chan's chart because it will be over the 50 ema.

http://stockcharts.c...t...04&cmd=show[s77560190]&disp=O

I like his style..very simple and clear.

One thing about silver though it's noted for distribution but really has been consolidating from April to now mostly between 17-18.50 area. End of the day will be the tell imo. Today silver has a Sars buy signal on it too

Good trading

TM