Silver Market Update

Silver Market Update by Clive Maund

Silver reacted back sharply on Thursday and Friday after a parabolic blowoff top. This was not a final top, but it does indicate that silver needs to take a rest and consolidate / react back, probably for at least several weeks.


The latest silver COT is also showing a 1-year record extreme for positions, giving grounds for caution…

Click on chart to popup a larger, clearer version.
Although the longer-term Hedgers chart for silver is not at the extremes that it reached in 2016 and 2017, readings are also at levels that give grounds for caution, especially considering that silver just did a parabolic slingshot move.

Click on chart to popup a larger, clearer version. Chart courtesy of sentimentrader.com

The conclusion is that silver has started a corrective phase, and, given the nature of the beast, it could be quite scary for the unprepared once it breaches the parabolic uptrend, but with gold especially having signaled the start of a major bullmarket any such corrective action will be viewed as presenting a rare opportunity to buy silver investments at very good prices ahead of the major uptrend that is expected to follow.
End of update.

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The Daily Coin

Rory Hall, The Daily Coin. Beginning in 1987 Rory has written over 1,000 articles and produced more than 300 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Silver Doctors, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Shadow of Truth YouTube channels to enjoy original videos and some of the best economic, precious metals, geopolitical and preparedness news from around the world.