Monthly and daily charts show Silver is oversold here, and turning up...The confluence of technical signals and contrarian potential of this trade make it extremely interesting and definitely worth a try. If our long positions work, we could end up riding a massive uptrend to $25+-, or even higher, provided we first go higher and break above the monthly modes on chart, to eventually signal the uptrend to $25+ as per the chart. This signal isn't yet active, but is within the realm of the possible and logical. I'd reccomend keeping some exposure to gold and silver, specially now, given the charts and sentiment.
Do you know exactly when the last time large spec was short - month in the year? Wondering if we could get a fade down before we explode or has it already happened with that most recent flashcrash down to the 14s overnight.
Silver vs gold looks like it could be bottoming but unclear thus far..
Some spreads are providing more clarity though..
IvanLabrie
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@Lanmar, no but we can look it up. I like those spread charts, looks good.
Amazing possibilities. Thank you for the work done and the generous sharing. Very thought provoking!
IvanLabrie
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@Bo, welcome! I'm bullish long term, it'll be harder to trade if you use leverage. Best bet is probably buying a fund like CEF, PSLV, or SLV. Physical costs are too high, given the volatility. Practically a scam.
Silver vs gold looks like it could be bottoming but unclear thus far..
Some spreads are providing more clarity though..