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Commodities Briefing - Categorized | Bullion/Gold, Commentaries more

Can silver add a contrarian shine?

Posted on 05 April 2013

Silver prices are plunging, there’s no denying that. The technical picture in silver is indeed ugly, a point expertly made by my InvestorPlace colleague Serge Berger in his piece, “Silver: Ugly, and Getting Uglier.”
Yet I’m a contrarian by nature, so given the latest drop in silver prices, I start to ask myself how I can take advantage of the downtrend. Is there a “blood in the streets” buy here in the space? I suspect so. Earlier this week, I noticed that the Commitment of Traders report in silver continues to signal that there isn’t a risk of an impending washout. Here the “net long” position of speculators in silver is now at just 1k contracts, down from a high of 36k in October………………………………………..Full Article: Source


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This post was written by:

VRS - who has written 34624 posts on Opalesque Commodities Briefing.


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