Two weeks ago I posted that the silver market had changed its direction from what seemed to be a perpetual DOWN TREND to an UPTREND.
An UPTREND is defined as a series of HIGHER LOWS and HIGHER HIGHS. I did note that Silver needed to have some follow through to confirm a turning of the tide.
What happened? Silver began to sell off, as it had done some many times before. And yet the market clearly drifted into establishing an even HIGHER LOW. Today silver blasted off in the kind of power move that confirms a changing of the trend.
One day does not a market make, and silver does seem to be range bound, but today's action was very powerful. A trend is your friend until the end!
source: JM Bullion
The premium on American Silver Eagles remains below $6.
No one seems to be talking about gold, as if it were the MONSTER in the closet. Perhaps, it is because GOLD is the MONSTER in the closet. The price of gold is reaching all time highs.
Is gold about to make a run?
We can't live in a World where gold outshines the Almighty Federal Reserve Note.
Or can we?
Peace out and Stack On!