Home > Boards > Commodities > Metals > GOLDBUGS AMEX Goldbugs Index (GC\Z20)

Clive Maund »» Silver Market Update

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
DiscoverGold Member Profile
Followed By 143
Posts 56,110
Boards Moderated 39
Alias Born 03/10/04
160x600 placeholder
DiscoverGold   Monday, 01/06/20 07:58:07 AM
Re: DiscoverGold post# 39664
Post # of 39766 
Clive Maund »» Silver Market Update
By: Clive Maund | January 5, 2020

Unlike gold, which has forged ahead, there has been very little change in silver since the last update. This is not surprising because gold is stronger than silver during the earliest stages of a new bullmarket, while silver performs the strongest during the late stages of a bullmarket as investors “throw caution to the wind”.
On the 6-month chart we can see that, although it has risen incrementally over the past week, silver has started to splutter beneath the resistance level shown, with a somewhat bearish (short-term) candle appearing on Friday…

And given that the latest COT shows positions rising to extremes again by early last week, it seems likely that silver will back off some short-term, which would be logical if the tension associated with the killing of the Iranian General eases somewhat. If it does it can of course be expected to coincide with gold dropping back from its key resistance level temporarily.

Overall though, silver’s charts continue to look positive, with the 10-year showing it starting to climb away from the 2nd low of a giant Double Bottom, and this is especially the case because gold has already made a clear breakout from its giant multi-year base pattern. Thus, any near-term dip will be viewed as an opportunity to build positions across the sector further. Don’t forget the extraordinarily bullish long-term HUI index over gold and silver over gold charts that were included in the last update.

Read Full Story »»»


Click on "In reply to", for Authors past commentaries

Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
Current Price
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist