Sunday, March 18, 2012

Silver oversold

After the multiple sell offs in Silver over the past year, I'm sure it has scared off potential speculators and investors.  Traders are interested in increasing the value in their account (fiat), they do not care where it comes from.
The PM markets have not been on a solid trend since last year / last summer and there is not much interest in trading or speculating in Silver or Gold.  Many people see these markets just like a stock in a company and just want to trade the swings, either long or short.

Add in the blatant manipulation to the downside by the bullion banks (JPM, etc...) and it's enough to keep anyone out of these markets. Even if the fundamentals for PM's should justify much higher prices in ALL currencies. 

Silver needs to break above the upper trend line that is on a decent.  (For those that are bullish) When?  It almost broke out on Feb 29th, but that is when the criminals set off a 'sell off' in the market.  Those crooks really know when to pick key technical days.

Slow Stochastics are oversold at ~14.  RSI is not quite oversold, but does not need to get under 30 to head back up.  April should be a better month for the PM markets.

Long term - Bullish
Medium term - Stuck in a large trading range.
Short term - Bearish or ask the bullion banks which way they want the price to go.

I'll leave you with a great interview from Jim Puplava who interviews Ted Butler on Silver manipulation:
Puplava - Ted Butler Interview

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