the $33 area should serve as some sort of near term resistance. stochstics and RSI are just now coming out of oversold levels and could indicate silver will bounce much harder.
After a huge spike in the futures overnight…they were up as much as 8ish%…it almost touched the psychcologically important $50 area ($49.80) to be exact. That was the absolute high however so far today and for the time being at least it looks like silver futures might leave a huge tail today (candlestick with long […]
Just a quick reiteration of my earlier post on silver. Now on the close we are left with a pretty ugly looking candlestick bar on big volume. I'm definitely not saying it's a top here, but it is worth noting and I remain short overnight.
Last night silver futures fell as low as $42.20, about a 10% sell-off. As of this writing the futures have rallied back up above the $45 mark, but still down over 6% on the day. See the intraday chart. On the daily chart note the uptrend measured from the end of January is still in […]