Just about the only asset I can point to as something I’m enthusiastically bullish is silver. I’ve written about this many times, although its behavior over the past several months has been frustrating, as it has meandered aimlessly in the lower 30s.
In spite of this “noise” in recent weeks, silver’s medium- and long-term charts look as solid as ever. Silver versus the US Dollar has formed a nice base and is in position to blast off.
And, regarding precious metals in general, silver is a bargain compared to gold. The silver/gold ratio has rarely been lower than it is right now, so if you think precious metals in general have a bright future, I’d suggest that silver is particularly well-poised.
My own position is in PSLV, and I’ve tightened up my stop to 10.29. Take note how the volume is saucer-shaped, similar to the price action itself. This is a confirming sign.
Lastly, here’s a closer look at PSLV itself, which has been hammering out a steady series of higher highs and higher lows.
Silver Springs to Life
