Silver

[Pascal]

It is interesting to see Silver attracting money, but SLW not been able to push through its 50MA.
I suspect that if the price of silver continues to increase, we will see a break-out of SLW above its 50MA on strong volume.

That will be a buy signal for the whole sector. Of course, there is still a strong resistance around $39 and $40.
Anyway, on todays gold/silver price reversals, AGQ and UGL look interesting.


Pascal


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[Mike]

Pascal,

Using the cyclical timing mechanism mentioned in some of my posts using the Coppock indicator silver has given a monthly buy signal and is about to give the weekly. Symbol AGQ is projected to give a pocket pivot today. This might be the time...

[Pascal]

Yes, I agree!
I was also going to post the Gold EV chart below.


Pascal

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[grems8544]

Indeed.

GGT fired long on silver SLV and SIVR the evening of the 14th and tonight USLV and AGQ both followed. I note with some interest that *normally* the levered ETFs fire first and then the 1x ETFs follow, and this is not the situation right now. This tells me that we've been whipped around a bit and the numbers for silver are a bit off.

Nevertheless, I'm opening a position in AGQ on Friday, provided it continues to move upward. From the ETF file in the Dashboard folder:

Right-click on the following image to open in a new tab or window.

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Regards,

pgd