Silver Market Update

By September 7, 2017Uncategorized

The long base pattern in silver continues with positive price / volume action of recent weeks suggesting that it is approaching completion. On its 10-year chart we can see the giant Head-and-Shoulders bottom pattern that has formed in silver, which parallels the one in gold, but is downsloping because silver tends to underperform gold at the end of bearmarkets and early in bullmarkets. The volume buildup of recent months is bullish, especially as it has driven volume indicators sharply higher, with the On-balance Volume line having rather incredibly made new highs this year, which is viewed as a very bullish omen.

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