Silver is stuck below the 50dma and there is no catalyst in sight to get the metal over this hump in the near future. A lot of experts on KWN are calling for a huge summer in metals but I don;t know what is going to be the cause of that for now, I'm buying physical any time it get near 36 and just forgetting about it.
There is no point in putting up the same chart over and over again soo we will get a volatility squeeze as the range narrows and it will break up because the major trend is up.
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| sell at 39 buy at 36 or lower |
do you notice the pinching of the Bollinger bands, pinch is usually followed by the pop, hopefully the pop is up not down! I don't know why I can't get candle sticks on these charts anymore at stockcharts.com
HUI is oversold along with the rest of the stock market but without positive news I fear everything will be a lot cheaper over the summer.
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| The secular bear continues, the bull inside the bear ended yesterday. That doesn't mean you wont get oversold rallies but remember these rallies are opportunistic to sell not buy more. Sell the rallies buy extreme oversold! No catalyst to drive prices higher but plenty of catalyst for more downside. The Global economy is a mess. |
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| Positives, A/D line, severe bearish sentiment, investor intelligence survey as contrarian indicators are calling for a rally. |
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