This Past Week In Silver

Jack Chan
January 11, 2014

Silver is on major sell signal and config is bearish.

SLV – on short term buy signal.         

On long term sell signal since 2011, but prices now approaching 200ema support.

Speculation now approaching level of previous tops.

Summary

Silver is on major sell signal and config is bearish. Any buy signal is counter trend trade and risk should be managed. COT data suggests that speculation is reaching level of previous tops and more selling can start anytime.

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.

Peru became the world’s largest producer of silver in 2012.

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