Silver Price Update Exclusive

March 11, 2017

Speculation has reached a new high and pulled back this week, suggesting lower prices overall going forward.

Silver is on a long-term buy signal.

Long-term signals can last for months and years and are more suitable for the long-term investors.

SLV is on a short-term sell signal.

Short-term signals can last for days and weeks and are more suitable for traders.

Speculation has reached a new high and pulled back this week, suggesting lower prices overall going forward.

Silver traders are wise to pay attention to what the speculators are doing. Currently a liquidation has started and should last a few weeks until net long positions are much lower than current level.

Summary

Silver is on a major buy signal. But short-term is on a sell signal.

A correction is in progress.

Courtesy of  www.simplyprofits.org

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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.

The Fourth Coinage Act of 1873 embraced the gold standard and demonetized silver, known as the “Crime of 73”