This Past Week In Silver

September 20, 2014

Silver broke down this week, expect lower prices.

SLV – on sell signal.

Silver remains on major sell signal, however, prices are near 200ema support and a major buy signal can materialize in the months ahead.

Speculation continues to shrink. Expect lower prices.

Silver broke down this week, expect lower prices.

Summary

Silver is on major sell signal since 2011.

Short term is on sell signal.

COT data suggests more selling is likely before a tradable bottom is in place.

Disclosure

We do not offer predictions or forecasts for the markets. What you see here is our simple trading model which provides us the signals and set ups to be either long, short, or in cash at any given time. Entry points and stops are provided in real time to subscribers, therefore, this update may not reflect our current positions in the markets. Trade at your own discretion.

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.

During 1500s the Spaniards had taken 16,000,000 kilograms of silver from Peru.