PSLV weekly and daily charts looking a bit extended = time to book some profits. Will leave a little sprinkle on to run just in case - but mostly move to cash and re-enter after a pull-back.
For longer term timeframes I expect that silver will continue to move up …eventually, but likely needs to cool off first. COPX also looking topping here...and copper usually leads the metals complex. Maybe this time is different - but probably not.
NFA
For longer term timeframes I expect that silver will continue to move up …eventually, but likely needs to cool off first. COPX also looking topping here...and copper usually leads the metals complex. Maybe this time is different - but probably not.
NFA
Comment:
PSLV recently lost the 50-day convincedly and is now closing in on the 100-day MA @ ~$7.9X. Watching DXY and COPX for overall clues. DXY trying to get back above the 200MA....COPX is up about 1.5% as of this post. If Dr. copper gets above $37.47, will look at PSLV again, otherwise staying out and waiting for a lower re-entry. PSLV 200-day MA currently in the $7.5s ..NFA.