SILVER MINING TREND REVERSAL
I've been waiting several years for this now. The chart is a synthetic ratio of Silver mining vs Gold. I think of it like so: gold is down a lot in terms of USD. Silver is down in terms of Gold and Silver Mining down in terms of Silver. In the chart I stack the silver miners against gold and it's clear that the price of silver miners is low. I think it could even further...
As everyone is probably fully aware of, Gold is in a bearish trend and is plunging pretty hard. I follow many of the hardcore gold bugs out there and while they are still as bullish as ever, the general sentiment is pretty bad.
Technically speaking I don't think we've reached the "puke point" just yet, but IF we get some downside volatility, preferably fast drop, to the 0.04 level as indicated on the chart. I think it will provide an amazing long opportunity. I think the bear trend will reverse itself and we could see a bull trend with tremendous upside.
As everyone is probably fully aware of, Gold is in a bearish trend and is plunging pretty hard. I follow many of the hardcore gold bugs out there and while they are still as bullish as ever, the general sentiment is pretty bad.
Technically speaking I don't think we've reached the "puke point" just yet, but IF we get some downside volatility, preferably fast drop, to the 0.04 level as indicated on the chart. I think it will provide an amazing long opportunity. I think the bear trend will reverse itself and we could see a bull trend with tremendous upside.
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