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Silver Market Update


The 3-year chart shows that after severely testing the key support at the lows of September and December, silver is now in position to rally away from what should be seen later to be a Triple Bottom pattern. Although its moving averages are clearly in bearish alignment, silver will not have to rally too far to get above these averages so that they start turning up.


Given the extraordinary fundamental developments last week that have turned the markets up, in the process signaling an important broad reversal, it should be clear that we have an exceptionally positive risk/reward ratio for those going long silver here, as buyers can place fairly close stops beneath last week's lows. Anyone short should reverse position at once.

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