The shorts have made some pretty good $ from $49.xx to $32 and have probably traded the peaks near $38 during the consolidation over the past 2 months. Anyone that place on a new short at $38, $39, $40 are now in the red. Will they wait for a dip to buy back or cover while they can?
The bears see a financial instrument hitting a 2 month high and some may believe that the price will get knocked down, so they will put on a short position.
But the bulls see the chart as producing higher highs and higher lows which is an uptrend. There are also moving average crossovers of the 15dma over the 50dma and the 100dma which is a bullish sign. The price is also trading higher than the May 11th high of $38.47 which is depicted by the white horizontal line.
There are also many fundamental reasons why Silver should go higher in price. Gold took out the 1980 high of ~850 in 2008, 3 years ago. Silver is still trading under the 1980 price. Most governments are debasing their currency as that is what they do to take care of the debt problems that they have. It's kick the can down the road and the next officer will address the issue.
Stay long physical Silver until the Gold Silver ratio is under 20. Swing trade the ETF's and miners and most people should do well with just investing in the PM sector over the next 2-5 years.
The bears see a financial instrument hitting a 2 month high and some may believe that the price will get knocked down, so they will put on a short position.
But the bulls see the chart as producing higher highs and higher lows which is an uptrend. There are also moving average crossovers of the 15dma over the 50dma and the 100dma which is a bullish sign. The price is also trading higher than the May 11th high of $38.47 which is depicted by the white horizontal line.
There are also many fundamental reasons why Silver should go higher in price. Gold took out the 1980 high of ~850 in 2008, 3 years ago. Silver is still trading under the 1980 price. Most governments are debasing their currency as that is what they do to take care of the debt problems that they have. It's kick the can down the road and the next officer will address the issue.
Stay long physical Silver until the Gold Silver ratio is under 20. Swing trade the ETF's and miners and most people should do well with just investing in the PM sector over the next 2-5 years.
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