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

This post is a follow-up to the silver forecast on January 5, 2012, which forecast the 60 minute silver chart for January 6, 2012 silver.

The first chart below shows the 60 minute chart covering the forecast period of January 6, 2012. On this chart I have added a black zig-zag arrow. This arrow is the same arrow that was shown on the forecast in the January 5, 2012 post. You can see the forecast arrow shows that the trend for January 6, 2012 was forecast as down.

This forecast was made using the MarketWarrior indicator Swing Projector which updates each time a new bar completes. Next we will look at the Swing Projector indicator at the end of January 6, 2012.

The second chart below shows the Swing Projector at the end of Friday January 6, 2012. You can see the indicator now forecasts a bottom identified by the Blue triangle with the capital B inside. Then a rally to the Blue triangle with the T inside. The exact time of this bottom – top sequence will be slightly different from what you see in the second picture because the Silver symbol YI trades on Sunday. This will cause the forecast to make an adjustment when trading starts Sunday night.

Click To Enlarge

Click To Enlarge

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