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Message: Silverado Gold Mine Chart

Silverado Gold Mine Chart

posted on Apr 08, 2009 05:19PM

A 2nd classic Bullish Pedant Flag has been forming over the past 2 weeks on the Silverado chart, this is on top of the 1st Bullish Pedant Flag.

PLEASE NOTE: A pedant flag is formed when the price moves higher over a few days and then consolidates by moving sideways to a point where there is very small up/down movement in price; another words it forms a side-ways pyramid on a flag pole, just like the old college team sprit flags on a stick they waved at football games in to 1920s and 30s.

PLEASE NOTE:
that the 20 day moving green line has now moved comfortable higher above the 50 day moving avg. blue line. Everyday the share price holds in this consolidation phase, brings the 20 day moving avg. line higher above the 50 day line.

PLEASE NOTE: With trading volume tapering off, as noted by the accumulation of shares black line over-laid on top of the chart, allows for the Relative Strength Technical Indicator, above chart, to drop back below the over sold threshold, this is a good thing while the price builds a new floor to spring higher. REMEMBER; a slow steady gradual move upwards on the charts squeezes the short sellers, which will eventually give them sleepless nights because there hasn't been any room for them to drive the price down to make any money. If this slow positive trend continues upwards, the short sellers will eventually be forced to say "I am a believer, Garry is the real deal" and begin to buy Silverado stock by the truck loads to cover their short positions.

and the saga continues....


Apr 09, 2009 05:50AM
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