Silver Market Update With Clive Maund

Silver Bullets
  • Technical Analysis Shows Buy Signal!
March 4, 2013 9:56 am est

We can see this latest action on the 8-month silver chart below, which shows that after the high-volume capitulation panic low of the preceding week, silver staged a 4-day rally towards a resistance level before turning lower again and heading back to the vicinity of its lows. On Friday it bounced back quite strongly from intraday lows, leaving behind a bullish “spinning top” candlestick on its chart, like gold, which is a bullish sign, especially as it occurred at a support level and at its channel support line – this may mark the final low for this downtrend.

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