Silver almost there against USD

14 Şub 2017

I'm not a fan of using the upper red trend line on this chart as it has very few touches (3 to be exact) in comparison to the one that Silver has already broken through. My thesis here is that Silver will be the out performer of the precious metals this year. Strength as Gold has been selling off and USD rising is unparalleled. We are currently at an area of great resistance so my advice would be to wait for a pullback before buying and confirm this breakout. I do not expect it to turn for very long if it does, although if it begins following the bottom arrow i will re evaluate my bull thesis as that would show considerable weakness compared to right now.