Silver - Daily Technical Status
Let's take a look at silver. This metal is usually the recipient of wildly bullish upside action during the frequent manic phases of precious metals runs. I have not looked at silver much because I have been very bearish the metal and in fact my ultimate downside targets have not yet been hit.
But the way the scenario is setting up, this wild man could again lead to the upside for a while before any serious downside gets underway next year. In fact, when the silver bulls once again start frothing all over the internet, it maybe be time to take some profits in what I expect to be a nice precious metals rally over the next several months. But again, as noted in NFTRH, we will let things play out instead of trying to impose our will on the proceedings.
Here is a daily of silver showing the potential for a none too severe pullback along with the HUI, which is indeed due to catch a breath.
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