The live daily futures chart shows the silver price rising through what appears to be an arbitrarily drawn trend line by some chart guy, after nesting nicely above the SMA 50 and SMA 200. Our modest short-term target has for weeks now been a higher high to the February high. If that comes about the subsequent pullback would probably be the last one to buy silver at a bargain basement price (I began buying and noting such in NFTRH at the May low).
Arbitrary trend line? I don’t think so says the chart guy with a weekly view. But this is obviously not yet conclusive. A weekly close is what the black boxes would probably factor.
And of course the long-term chart and its super bullish Cup & Handle vs. super bearish Head & Shoulders (got to love TA patterns and the men who stare at them).
As long as support at 14 holds, silver is intact, not because of this potentially disgusting view, but because of the constructive daily, which will inform the weekly, which will inform this thing. That daily is and has been attractive since it tested and held the now up-turning moving averages.
You can also keep up to date with actionable public content at NFTRH.com by using the email form on the right sidebar and get even more by joining our free eLetter. Follow via Twitter @NFTRHgt or StockTwits.