Cycle Trading

Silver closed above the 24 level on Friday.

Silver has been consolidating below the 24 level for the past 3 weeks. Silver broke above consolidation on Friday, which could lead to a trending move. Closing above 24 was a buy signal. Positions can be added to with a close above the 50 day MA, then again on a close above the 200 day MA. The first stop would be a close back in consolidation. The next would be a close back below the 50 day MA. Then once above the 200 DMA, using that as the stop.