Silver Futures – The Big Money is back!!

Silver Futures – The Big Money is back!!Image

=== The recent “pop” in silver prices on the daily and weekly is a Significant signal that the big money has entered the trade long (buy side). We can see a similar technical picture in gold but lets focus today on the silver futures. In the “snapshot” above we can clearly see that the recent two bars (two weeks) are huge green candles. This can only be formed with big money. It’s also referred to as the”Elephant Candles”, where institutions, hedge funds, sovereign fund and any big money you can think of have placed their positions long. “History loves Elephants”

Once again, in order to form a red or green candle (bullish or bearish) people need to place trades ($$$),  and a candle this Size is always, i repeat always ,  a very bullish signal. Now, this is a weekly chart so it will take a few weeks to continue its trend upwards to test the “neckline” or the last “historic highs” @$49.8  an ounce.

With its appropriate corrections and “bear traps” silver has formed a support area and rocketed from there. Prepare to see more “fireworks” to the upside.

As always this is NO advice, only my technical analysis /commentary, when you trade always place stops!

Keep monitoring  & good luck. Dimitri F. ====


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