This Past Week In Silver

Jack Chan
May 24, 2014

SLV – on sell signal.

Silver remains on major sell signal, however, prices are near 200ema support and a major buy signal can materialize in the months ahead.

           

Speculation on silver is not anywhere close to levels of previous bottoms with OI falling.

Summary

Silver is on major sell signal since 2011.

Short term is also on sell signal.

Big trend is down with a multi month consolidation in progress, while COT data is not supportive of higher prices overall; caution and patience is advised.

Disclosure

We do not offer predictions or forecasts for the markets. What you see here is our simple trading model which provides us the signals and set ups to be either long, short, or in cash at any given time. Entry points and stops are provided in real time to subscribers, therefore, this update may not reflect our current positions in the markets. Trade at your own discretion.

Jack Chan

Jack Chan is the editor of simply profits at www.simplyprofits.org, established in 2006. Chan bought his first mining stock, Hoko Exploration, in 1979, and has been active in the markets for the past 37 years. Technical analysis has helped him filter out the noise and focus on the when, and leave the why to the fundamental analysts. His proprietary trading models have enabled him to identify the NASDAQ top in 2000, the new gold bull market in 2001, the stock market top in 2007, and the US dollar bottom in 2011.

US silver mining began on a large scale with the discovery of the Comstock Lode in Nevada in 1858.

Silver Phoenix Twitter                 Silver Phoenix on Facebook