PMs Update

The longer term charts need some time to pass to catch up, but the short term charts were negative right off the GLD gap up and GLD has headed lower since.


As for silver,

This excerpt was from yesterday's silver update,


"Here's an hourly chart of SLV in a bearish ascending wedge, most traders expect a straight drop down out of the wedge, because it is so obvious, it is likely to be gamed, so I would look for a breakout to the upside, maybe even a new local high and then a plunge in SLV, lifting ZSL. It shouldn't be long now that the wedge is so tight."


This morning SLV did both.