I think it would be fair to say I feel a bit stronger about my gold scenario then I do silver. This has been bothering me so I've been A/B comparing the charts and found 1 standout, the SLV daily 3C chart looks stronger then GLDs.
Here is GLD daily, it's been negative through the consolidation, there was a brief positive that sent GLD higher in white.
Now the daily for SLV, it looks a lot stronger, even though the price pattern looks quite negative.
The 15 min chart shows a clear negative divergence for Silver and it seems as if it WILL pullback more. Perhaps the answer to the longer term question lies within the underlying action of the pullback. For example, if SLV were to show signs of accumulation on a pullback, that would be a bullish hint, if not, then bearish, but the daily charts are clearly different.
No comments:
Post a Comment