Wednesday, November 20, 2013
Silver tredline still respected
I've read several commentators predicting the immenent fall of gold and silver to new lows but if my system is correct silver shouldn't play around for long at theses levels before it starts to climb again. Another touch of the trendline perhaps and then the inverse ETF should start moving down which means silver moves up.
It would be possible for the above chart to respect the trendline while silver continues to fall in an orderly fashion but I think the odds are better for the reverse to happen sinse touching the trendline usually indicates that a turn is coming.