SLV, weekly
GLD, weekly
Neither of these two charts are good. Both are negative on all indicators. Silver especially is close to a snap-break if $30 fails to hold. Gold is only $40 away from triggering at least a moderate cascade to test $1500 again.
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I can only guess the big metal bulls are very much waiting for the Bernanke to do QE3 this summer. Whether its some kind of MBS purchase scheme, or old-school POMO nonsense...we'll just have to see.
Good wishes for Tuesday trading