The SILVER Bottom is in and we have a bullish breakout
The MACD gave the buy signal back in July 2013 on the weekly chart
so far the MACD has given us good signals of market turns at each of the extremes
Nov 2008 low $8.87 gave us a buy signal, which rallied to May 2011 high $49.78
then giving a sell signal near the high again at the very extreme of 4 on the MACD scale.
The BUY signal was given on an extreme of -2.5 on the MACD and confirmed with the
breach of the long term down sloping trend line from the high which had been acting as
resistance.
This is very bullish for gold too.
Silver can now go test the old high, gold will follow. Anyone short is now trading against the trend.
so far the MACD has given us good signals of market turns at each of the extremes
Nov 2008 low $8.87 gave us a buy signal, which rallied to May 2011 high $49.78
then giving a sell signal near the high again at the very extreme of 4 on the MACD scale.
The BUY signal was given on an extreme of -2.5 on the MACD and confirmed with the
breach of the long term down sloping trend line from the high which had been acting as
resistance.
This is very bullish for gold too.
Silver can now go test the old high, gold will follow. Anyone short is now trading against the trend.