blog.milesfranklin.com / By Bill Holter / February 18th, 2014
I wrote a piece yesterday showing you how the moving averages for both the HUI and gold look to be bottoming and crossing over from very oversold levels. I got to thinking, what about silver? I figured in the back of my mind that because silver has underperformed gold and has generally seemed to only “bottom bounce” more that its progress was behind that of gold.
I again tapped my buddy Dan Norcini and asked him what silver looked like? This is what he sent me!
Silver is exactly where it should be given that historically the shares lead, followed by silver and then gold. Silver’s MACD’s are not “touching” yet but they are VERY close, much closer than gold’s to crossing over. I do want to point out that we have “round tripped” back to the $18-$20 levels that was seen in previous years as resistance. We basically hit this resistance level 3 times prior to the 2011 run up. Once broken out however, silver ran to $30 in 6 or 7 months.
READ MORE
No comments:
Post a Comment