Written by:
Patrick Mikula CTA
Mikula Forecasting Company
www.MikulaForecasting.com
support@MikulaForecasting.com
Copyright © 2012 by Patrick Mikula All Rights Reserved

This post will discuss a forecast for the 60 minute silver chart for January 6, 2012. The picture below shows the MarketWarrior indicator named Swing Projector. This indicator projects into the future a series of swing tops and bottoms. The small circle with a t or a b mark small swing top and bottom projections. The triangles with a capital T and B represent the larger swing turning point projections. The yellow lines are the projected price levels. The picture below shows the mini silver futures contract symbol YIH2. I have manually added a red zig-zag arrow that shows the expected path of the silver price for June 6. The silver market should make a top early in the day and then should make a zig-zag move down to the point marked by the large triangle with a B inside. I expect the bottom to be made on one of the price levels identified by the yellow lines. I would like to see these tops and bottoms lines up with overbought and oversold momentum. We will review this forecast in a few days.

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