My analysis is little changed here, to me it looks as if GLD is ready to reverse down and SLV maybe has one more day.
GLD 1 min continued to deteriorate today
The 10 min chart is in a very steep negative divergence
And the 15 minute chart took an afternoon turn down.
SLV's 5 min deteriorated today into rising prices, exactly what I'd expect to see
The 10 min showed no confirmation whatsoever. I feel the 5 min will make the 10 min look worse tomorrow and that will finally tip the 15 minute chart into a reversal.
Note the 15 min chart has a slight negative bias into the afternoon today.
I'd be a little surprised to see GLD move down and SLV not follow, or to put it better, to see the PMS not move in tandem, but that is what the charts seem to suggest.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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