Friday, October 7, 2011

SLV Update

 SLV 2 min slight leading negative

 SLV 5 min both relative and leading negative.

 SLV 10 min both divergences, like above.

 The 15 min chart has a small negative, not too bad yet.

 Both the 30 and 60 min above and below have leading positive divergences. There's a range in SLV as you can see above, it may be heading for the bottom of that range. I haven't had time to look if there's any COMEX activity, but we have seen moves in the day that were negative and find out after the close that COMEX raised margins again. I would keep an eye on SLV's behavior around the bottom of the range.

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