Good morning, a quick look at the two shiny metals.
Both Precious metals remain weak, on a daily, weekly, and monthly cycle. The 5-10 year up trend is of course still massively bullish, but the last year has been rough for those who bought near the highs.
SLV, daily
GLD, daily
Summary
Silver MUST hold $30..or there will be real trouble. Gold is still stronger, but is also still in a broad downward channel.
*considering the weakness in Copper (see previous post)...if I had to guess...I'd say Silver will snap through $30 within the next 1-4 trading days, and take Gold down with it.
Both Precious metals remain weak, on a daily, weekly, and monthly cycle. The 5-10 year up trend is of course still massively bullish, but the last year has been rough for those who bought near the highs.
SLV, daily
GLD, daily
Summary
Silver MUST hold $30..or there will be real trouble. Gold is still stronger, but is also still in a broad downward channel.
*considering the weakness in Copper (see previous post)...if I had to guess...I'd say Silver will snap through $30 within the next 1-4 trading days, and take Gold down with it.
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