Loading ...SLV as proxy for Silver
Is it time to accumulate silver stocks?
Using SLV as a proxy for Silver. The Daily chart shows positive divergences and positive momentum at a possible double bottom.
On the weekly chart from the low in December 2017 until today we have a positive accumulation, but look at the soaring Accum/Dist line since late August/ early September this year. Wow. There are also positive divergences on the weekly RSI and MACD which has turned upward.
Wow A plethora of Positive Divergences
Plethora, yeah. Great big words – heh heh.
We need to be aware that sneaky Morpholgy could put a number of traders on the wrong side. By that I mean SLV could retreat from the possible DT and morph into a 5 point reversal, maybe even with a false downside break at support, then leave the station with few passengers on board.
The real upside momentum is there behind the curtain. A Nervous Nelly like me has to be disciplined and not get fooled.
Thats well put Foxy
Jumping in and out and in and out…eats precious capital.
best to wait for a clear breakout
and in a perfect world a successful back test.
Easier said than done
SF, very useful charts. Just curious — what is the top indicator on both charts? It’s not labelled.
The print is tiny, Simon – look closely in the top left corner. RSI (14)
Relative strength Index. Based on closing prices during the last few periods. In this case 14 days, 14 weeks.
Click again on the chart after it is open to expand to full size.
https://en.wikipedia.org/wiki/Relative_strength_index
Cheers