As I’ve noted in the latest Gold tout (see above), Silver’s chart looks significantly weaker in comparison. The correction from January’s record 121.23 has breached the midpoint support (p=68.390) by a significant amount, setting up what can only be viewed as a ‘textbook’ mechanical’ short on any rally that touches the green line (x=80.203). That implies the futures could fall as far as D=44.765 after peaking at x or somewhat higher. I prefer to analyze each chart on its own, rather than complicate the picture by tying it to another, even if they are close cousins. We’ll have to see what the new week brings, but I’ve mentioned in the Gold tout that bulls would seem to hold the edge here. ________ UPDATE (Feb 9, 11:12 a.m.): See Monday night’s chat room discussion for further guidance.
SIH26 – March Silver (Last:80.94)
