Tuesday, 17 April 2012

Metals again not participating in the rally

Whilst the Dow jumps over 1.5% today, once again the metals display their underlying weakness.

GLD, daily


SLV, daily


Indicators are warning of a renewed push lower, a push that could easily knock SLV below the big $30 level, and that indeed opens up a $4/5 cliff fall within a very short period of time.

If SLV breaks $30...its one to chase..with a short-stop at the $30 level.