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
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...
Mike Scott
Cloverdale, CA
Yes, I agree!
I was also going to post the Gold EV chart below.
Pascal
GGT Forum Manager
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.
Regards,
pgd
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