Since the recent sell-off in silver, I’ve been keeping a close eye on precious metals. From a fundamental standpoint, things are basically the same–precious metals are bullish in the long term. Dollar weakness, financial troubles with the ECB, and Greece can’t manage to pull out of the mess they’re in.
Taking a look at the chart. You can see the in chart below that the intermediate down trend is showing support at the $32 dollar level–for now. Long positions can taken as soon as price action quotes above the down trend line. However is we break below $32 on significant volume short play should be taken.—highly unlikely according to fundamental factors.
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