Monday, March 21, 2011

GLD/SLV

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.

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