Precious metals can become stronger if stock prices weaken. Of late we've seen gold trending upwards a lot more than silver, and we could have a situation where silver starts to catch up with gold. Since silver is usually twice as volatile as gold and currently far lower in it's previous swing, this means silver may be a top performing asset in a metals rally.
Sentiment with the biggest silver traders also seems to have seen some change. The largest players in the silver market are usually net short (hedging) and only go slightly long at other times. Recently this has rocketed with them being net long the largest position ever. Some analyst speculate this is a sign of a single large entity accumulating silver positions, and this entity being China. I've found reports of this mostly on perma-bulls for metals websites, so that should be considered also.
From a technical viewpoint, silver has made a full retracement to the lower fib level after it's expansion period to the highs. It's found support here and formed what looks like it could be a double bottom. Silver could be entering into the take off period of a new trend.
Swing trade : Buying Silver 18 Stop loss 8.60 Target 70
If this move starts to happen, I will post additional short term trades to follow the momentum through days/weeks
Sentiment with the biggest silver traders also seems to have seen some change. The largest players in the silver market are usually net short (hedging) and only go slightly long at other times. Recently this has rocketed with them being net long the largest position ever. Some analyst speculate this is a sign of a single large entity accumulating silver positions, and this entity being China. I've found reports of this mostly on perma-bulls for metals websites, so that should be considered also.
From a technical viewpoint, silver has made a full retracement to the lower fib level after it's expansion period to the highs. It's found support here and formed what looks like it could be a double bottom. Silver could be entering into the take off period of a new trend.
Swing trade : Buying Silver 18 Stop loss 8.60 Target 70
If this move starts to happen, I will post additional short term trades to follow the momentum through days/weeks