Recently, silver (and platinum) have made new highs, but gold hasn’t. We note divergences, and that’s why new highs for gold are important, so that all are in sync.
We're moving higher in wave 3...within wave 3, we completed wave i at 29.91 and wave ii at 18.01 and we are now continuing to move higher in a subdividing wave iii.
Silver’s strong June is especially notable because typical drivers like futures buying and SLV-share demand don’t fully explain it. This suggests rising global investment demand. It’ll be interesting to see how it unfolds.
The breakout target is $44. But to realize that, we need to recover soon and see new highs above $37.30 the high so far. Indicators are for the most part neutral here.
On June 5th, silver finally broke above both the $32–$33 and $34–$35 resistance zones that had capped its upside for the past year, frustrating many silver bulls, including myself.
Silver finally broke out and made new 52-week highs. However, we don’t like the way it broke out. Platinum is doing something similar. Both made new 52-week highs this past week...
