With the dollar at a loss of about .09% and the Euro at a similar loss of .08%, I thought since there's no
FX correlation moving silver today and since the longer term 3C charts have had time to catch up to yesterday's move, "I wonder what SLV looks like today?"
SLV is up .80% from a gap up, but has traded sideways today, not adding to the gains. The 1 min chart looks like there's been some selling going on.
Here we see some positive divergences moving SLV higher and a negative leading 2 min divergence, agin suggesting some selling.
For all intents and purposes, we can say the 5 min chart has confirmed the move up, today there's a pretty dramatic shift in 3C to a leading negative stance.
The 15 min chart has also gone negative
As has the 30 min chart (selling in to strength?)
The 60 min chart has been in line with the trend, is it now just putting in it's first real divergence? If the lower timeframes continue to deteriorate, SLV could be in for a rocky road.
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