Major silver reversal on the horizon?
Given the dramatic short squeeze at the beginning of the month, price action suggests that silver might be set to rally further as 2014 comes to a close. Most silver traders have already taken note of the long term trend line that seems to have been hit on the 1st. I had initially identified this trend line as being around the $13.50 level (this week's low was at $13.97-99).
I've suggested in a related idea that silver may give further bullish signals in the next couple of weeks, especially if it manages to break above the three-year bearish trend line currently at $17. Please take a look at my daily chart setup in my previous ideas suggested to see better what traders looking to go long should be watching out for towards the end of the year.
I've suggested in a related idea that silver may give further bullish signals in the next couple of weeks, especially if it manages to break above the three-year bearish trend line currently at $17. Please take a look at my daily chart setup in my previous ideas suggested to see better what traders looking to go long should be watching out for towards the end of the year.
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