Silver Market Update
By : Clive Maund
CliveMaund.com
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In the last update it was pointed out that silver looked stronger than gold, and it has since outperformed gold significantly, which in itself is a warning that the uptrend in the broad stockmarket is mature. However, the larger trend for silver must be classified as neutral at this time.
On its 3-year chart we can see that although silver has rallied well in recent weeks it is confronted with a line of heavy resistance in the $16 area which is expected to keep a lid on it, except in the event that gold succeeds in breaking out to new highs, in which case silver could vault this resistance and then proceed to work its way through the remaining resistance approaching its highs. The first and onl...
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