On September 26, 2011, Silver (ETF SLV) hit a oversold reading of ~14.03 on the RSI. For traders that are watching Silver, this was a good time to accumulate shares of SLV or Call options depending upon ones strategy.
The RSI is close to a 50 reading and rising. Futures swing traders and hedge fund speculators may be accumulating positions for a potential price appreciation in November...?
The MACD has crossed over and is also trending upwards. In these markets, no technical indicator will tell you what will happen tomorrow, but it does look like Silver and select Silver miners may be heading for a potential rally.
The MACD has crossed over and is also trending upwards. In these markets, no technical indicator will tell you what will happen tomorrow, but it does look like Silver and select Silver miners may be heading for a potential rally.
No comments:
Post a Comment