Loading ...Silver’s running into resistance…
Silver is coming up against its declining 100 WMA at $22.93 currently. A declining 100 WMA is always going to pose stiff resistance. I have some short term doubts, but I personally am not selling. Would love to see it manage to blow through that level this week or next and make a run for the $28 level. It’s a good sign that it managed to get back above the Ichimoku cloud this week.
The last 7 years have been one hell of a grind.
Who knows? I read Martin Armstrong’s blog among many others. He claims there is no pm manipulation. If you believe that how can you explain the fact that Silver traded at 50 bucks 43 years ago again a little over a decade ago and is now trading for less than half that. Every time I see Jim Rogers he talks about buying low priced stuff but he’s been saying that since his dentures fit. Dunno bout Silver.
It’s right below gold in terms of fulfilling the parameters of money, one of the most important being the stocks to flow ratio. No other commodity comes remotely close.