Dear INO.com Readers,
The end of January brought worrisome signals to the metals' bulls and I want to show you where Silver and Palladium failed to sustain growth and why.
Silver Is In A Downtrend
Let's start with Silver, as it's more liquid and therefore more interesting. Below is a weekly candle chart. I started my metals posts from an overview of a monthly time frame and now I am digging deeper into details using a weekly period.
The medium term trend is bearish. At the end of 2014, Silver managed to stop a free fall that started above the $21 level. Price sculpted a double bottom figure (highlighted in the blue semicircle) in the $15-18 range. Continue reading "Metal Tactics: Short Silver and Palladium With A Tight Stop"