This Past Week In Silver

August 24, 2013

Silver is giving short-term buy signals. Moreover, speculative Open Interest is rising, which suggests higher prices down the road.

 

SLV – on short term buy signal.        

On long term sell signal since 2011, but prices now approaching 200ema support.

 

 

Speculation on the increase but OI is lagging which is a divergence, worth watching.

 

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Jack Chan

Jack Chan is the editor of simply profits at www.simplyprofits.org, established in 2006. Chan bought his first mining stock, Hoko Exploration, in 1979, and has been active in the markets for the past 37 years. Technical analysis has helped him filter out the noise and focus on the when, and leave the why to the fundamental analysts. His proprietary trading models have enabled him to identify the NASDAQ top in 2000, the new gold bull market in 2001, the stock market top in 2007, and the US dollar bottom in 2011.

Gold weakens on global cues and lackustre demand