As a follow-up to my morning post and ongoing analyst of the precious metals and miners, it appears silver is temporary assuming the leadership role in the space.
On the intraday chart, you can see the silver ETF chart coiling all day. This a tight consolidation on this particular timeframe, though the overall picture remains sloppy.
Gold miners are coming in some today, though are still within yesterday’s price range.
Thus far, the upside reversals from last night in the metals themselves are largely holding. Further upside from here should bode well for a bear trap on the recent downticks.
SLV now likely need a move over $19.
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Great analysis Chess! I think when silver finally makes this long awaited upside move it’s gonna do it with ferociousness.
Could be, Scung. It moves fast when it moves.
silver miners outperforming the gold miners all year is the tell. the sector is setting up for a move.