Last week we noted that SLV was breaking a trend line. Among that and other bearish indicators, the Silver-Gold ratio had been holding out as a lonely positive indicator for…
SLV could be forming a Hammer candle, which is normally a reversal, which would paint the trend line break as a whipsaw prior to reversal.
Part of my job is to tell you what the charts say and this chart says that SLV is breaking down from a trend line and its 2x inverse, ZSL, is breaking up from one. One is below its 50 day moving averages and the other, above.
Policy, Profits and Propping… that is without a doubt the underlying fundamental support for a massive and growing phase of market speculation that becomes more dangerous with every week that it lurches forward. Once again, the chart that proves this in no uncertain terms:
With the precious metals strong in pre-market, it is helpful to take a current snapshot of the daily technical situation for perspective.
