Tuesday, February 28, 2012

Silver Breakout Attempt Underway

From the Chart Book.  As we write near mid-day Tuesday, silver has broken out above the giant flag downtrend line and it seems to be doing so like it “means it.”  So far.  Just below is a chart of iShares Silver Trust (SLV) as a proxy for silver. 

20120228-SLV
SLV.  If any of the images are too small click on them for a larger version. 

Notice also that silver (and SLV) has managed to reclaim chart real estate above the 200-dma.  As we send this note to be posted gold is trading with a $1,784 handle, with silver near $36.59. 

Kind of a quiet breakout, don't you think? 

 


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The Original
Vulture Speculator

Trading gold, silver and mining shares since 1980 with a focus on taking advantage of volatility extremes, Gene Arensberg analyses the markets through a basket of technical and fundamental indicators and shares his findings from time to time here at Got Gold Report. Mr. Arensberg has been quoted in the Wall Street Journal, Dow Jones MarketWatch, USA Today and dozens of other news organizations.

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