SLV needed to close above the $24.90 higher low of last week today to continue i's bullish trend on the weekly chart. Nothing fancy here, simple upward bullish trend. Yesterday Feds promised inflation which is the ultimate bull signal for precious metals, when considering phys demand remains very high and supply is very low in the US, falling dollar, and China and other countries starting to buy electronics again, all signs point to continued rise with expected small pullbacks due to bank manipulation of the COMEX/ETF.
I suspect silver, SLV and most mining stocks will out perform gold here on out since it is still extremely undervalued. As inflation rises, silver, the poor man's gold will have continued retail interest in physical as well as ETF's
See my other charts for support and resistance levels, Fib levels Fed policies, and other analysis...I have been adding on every pull back and now just hanging on for the the ride up to $50 with $45 Jan calls. Don't miss the boat.
I suspect silver, SLV and most mining stocks will out perform gold here on out since it is still extremely undervalued. As inflation rises, silver, the poor man's gold will have continued retail interest in physical as well as ETF's
See my other charts for support and resistance levels, Fib levels Fed policies, and other analysis...I have been adding on every pull back and now just hanging on for the the ride up to $50 with $45 Jan calls. Don't miss the boat.
