Waiting for the Snap

Despite the massive online chatter about the long term prospects (and sound fundamental basis) for Gold and Silver, the mid-term outlook still appears to be that of a down trend.


SLV, 2yr, bearish outlook

GLD, 2yr, bearish outlook

Looking for a Snap

How much longer to wait for this touted snap lower? Well, the daily cycle is a baby bear flag..so everything is set up for a major wave lower at any point. The weekly cycles are also very much open to such a snap.

The monthly charts would just about allow the metals one further side ways month - during May, but the downtrend is suggesting a snap - if its coming.will be either beginning next week, or early part of May.

Is SLV about to see another Sunday night massacre - just like May'2011 ? Everything is in place for such a repeat performance.

Good wishes..from the Silver bunker.