Loading ...Silver & The Miners – Part 2
[Using SLV as a proxy for silver]
Chart 1 – Potentially strong bearish divergence between MACD & Price. (Also between RSI & Price.)
Chart 2 – Plenty of gaps to fill on the way back down.
Silver [SLV] and the miners tend to correlate strongly. If Silver is rising, so too are the miners,
if silver is falling, so too are the miners. (Don’t know why.) Therefore, if silver is likely to fall,
so too are the miners.
Instead of “this is the beginning of the bull”, as of now, I think it is more probable
that, “you’ve just had a little rally in the PM space that has just about run its course.”
Let’s first see if SLV holds $14.80. It’s at $14.89 as I write!