A special message at Easter from the precious metals sector
“With the setup for silver now looking at its most healthy for a long time, what do the latest COTs have to tell us? You are invited to directly compare the latest COT chart for silver with its 1-year chart above, which is another reason a 1-year timeframe for one of the silver charts was selected. This is edge of the chair stuff for as we can see silver’s COT is at its most bullish since last November when the silver price was down making the 2nd low of its Double Bottom.There was a big drop in Commercials’ short positions last week and the Large Specs, who love to give up at the bottom, have thrown in the towel and legged it for the hills, which is just what we want to see before a rally.”
USAGOLD note: No rally like a silver rally. . . .We have had a steady stream of silver buyers at USAGOLD over the past several weeks buying both bars and bullion coins. Maund offers TA insights at the link above . . . .
Image courtesy of DeGussaGoldHandl
Repost from 4-23-2019