Monday, June 1, 2015
One more chart: SLV
1. SLV is printing what looks at this moment like an island reversal (circled)?
2. The island reversal happened at the end of the month because of a PM OpEx smackdown?
3. That SLV didn't continue lower after the smackdown, but stayed well-behaved?
4. That the island reversal just happened to be at the previous late-April-early-May pivot (horizontal line)?
5. That the island reversal also happened right on the SMA(50)?
It could still end in tears, of course. $16.50-$16.75 is where SLV has failed constantly since February.
But as long as silver acts like this, I'm going to use it as a tell against gold price moves.
BTW Indians start buying round now, don't they?