Has SLV Bottomed?
- Thread starter cactiman
- Start date
SLV has likely not put in a bottom in the long-term, but it has definitely put in a short-term bottom. The current move higher is likely nothing more than a bear market rally. When looking at GLD and SLV next to each other, SLV is experiencing more relative strength over GLD, but overall, I wouldn't expect this to be a bottom. More downside is likely in the future.
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I agree PMv; with much of that;i stay [real]short term bearish on almost all comodities+ i am seldom disappointed
Long term TRENDS silver,SLV ,,gold, real estate are UP;
slv, silver is up on 3 year weekly candles, 3 year bottom of 17.76 look like it may hold, Donchian channels are up on 3 year candles.Its up trend form 1987 crash, also .Silver is a roller coaster
Not a prediction , wisdom is profitable to direct
Quote from murray t turtle:
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I agree PMv; with much of that;i stay [real]short term bearish on almost all comodities+ i am seldom disappointed
Long term TRENDS silver,SLV ,,gold, real estate are UP;
slv, silver is up on 3 year weekly candles, 3 year bottom of 17.76 look like it may hold, Donchian channels are up on 3 year candles.Its up trend form 1987 crash, also .Silver is a roller coaster
Not a prediction , wisdom is profitable to direct
Murray t turtle:
Great analysis which I agree with. Not to sound arrogant, but since I made that post on 9-2-13, SLV has dropped over 5%.
Looking at a chart of SLV next to a chart to GLD, SLV is certainly showing more relative strength than GLD, but they are both sitll very bearish. With this in mind, a trader will accurately be able to pick the bottom in GLD based on both the GLD and SLV charts. I don't think the bottom is in yet, but when it comes, SLV is likely to bottom and start showing strength, then GLD will follow suit.
sometimes happened exactly the opposite with gold showing strenght and making the bottom before silver, so its not something that will work all the time.
anyway you're right about silver having relative strenght to gold right now, its been the case since the move to $25
anyway you're right about silver having relative strenght to gold right now, its been the case since the move to $25
IMO, it depends how long one is willing to hold it. I personally like it for long term holds, it won't stay at these levels forever 
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Pm Vision;
That did not sound arrogant
SLV may retest $17.76 area low,, i dont KNOW;
but i doubt if it stays below $17. 76 for long.Not a prediction, its in a long term uptrend----------------------------------------------------------------------------------------------------------------------------------------
I don't know but I do know the DOW top is imminent so consider it likely that in a panic situation,both gold and silver will rise (the real metal,not promises).