SLV, daily
Summary
The trend remains bearish, but even the strongest down trends will have brief - and often strong bounces. A move into the mid 28s seems very viable by the end of next week. The late summer/Autumn target of 22/20 remains though.
Wednesday, 16 May 2012
Metals due a bounce 'soon'
Silver had yet another lousy day, losing 49 cents. The down trend has appeared to accelerate in recent days, yet we are surely likely to exhaust this down cycle soon. The previous low of 25.65 last December will act as a good bounce level.
SLV, daily
Summary
The trend remains bearish, but even the strongest down trends will have brief - and often strong bounces. A move into the mid 28s seems very viable by the end of next week. The late summer/Autumn target of 22/20 remains though.
SLV, daily
Summary
The trend remains bearish, but even the strongest down trends will have brief - and often strong bounces. A move into the mid 28s seems very viable by the end of next week. The late summer/Autumn target of 22/20 remains though.
