I’ve had mixed results trading gold stocks in the past but those stocks have some of the best looking charts in the market pointing to higher prices very soon. I’m not going to speculate on why their rising when you consider how much money has been printed by the US and the inflation/deflation debate, but the fact is they are rising and have the right price/volume action you want to see for near term price appreciation.
While I am near term cautious on the overall markets, I do have a buy signal on the gold/silver stocks as they have the capability to rise even when the general markets are falling.
While SLV didn’t rebound like the individual stocks in the silver sector did on Friday, it does look poised to move higher after a retest of the higher trendline of the triangle formation below.
