Silver is doing its best to keep us all guessing as to what it is going to do next. For me it went down instead of up over the time period expected, and then it missed my downside target by ten cents on the upside, only going down to 15 rather than 14.90. I’m an Investor, not a chaser, so it didn’t get my money. Talk about Tricky though!
With the authoritative price move up off of 15, the trend is definitely back up. Under that thesis, we should next see a powerful, authoritative wave upwards to challenge the a-wave top from over a year ago.
The precious metals are not displaying strength here. It would be fair to say that they are still being properly manipulated by the Bullion Banks, so don’t expect prices to go to the Moon… In fact, if we don’t get that authoritative move upwards, expect the look out below scenario.