The technical condition of silver has continued to improve since the last
bullish Silver Market update was posted a week ago. This is because it has
held above the strong support in the $16 - $16.50 area, and by virtue of moving
sideways during last week, it has broken out upside from the bullish Falling
Wedge so that it is now in position to take off immediately, and is likely
to, especially given that gold has started to lift off, rising strongly on
Thursday on Friday. The position of silver, on strong support not far above
its rising 200-day moving average, coupled with the strong convergence of the
boundary lines of the Falling Wedge just completed are a particularly potent
combination pointing to a strong advance very soon.
Now we come to the question of whether investors are better off deploying
funds in silver itself or in silver stocks.
The above represents the opinion and analysis of Mr. Maund,
based on data available to him, at the time of writing. Mr. Maunds opinions
are his own, and are not a recommendation or an offer to buy or sell securities.
No responsibility can be accepted for losses that may result as a consequence
of trading on the basis of this analysis.
Mr. Maund is an independent analyst who receives no compensation
of any kind from any groups, individuals or corporations mentioned in his reports.
As trading and investing in any financial markets may involve serious risk
of loss, Mr. Maund recommends that you consult with a qualified investment
advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction
and do your own due diligence and research when making any kind of a transaction
with financial ramifications.
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