We are now witnessing unprecedented action in the war in the the silver market.
Jason Goepfert at SentimenTrader: “Last week we noted the historically persistent selloff in gold, and now silver has joined it. Silver has declined for the past 10 sessions for only the third time in 50 years…
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SentimenTrader continues: “The others were November 23, 2000, and September 11, 2008, after which it rallied +4% and +30%, respectively, over the next couple of weeks.
Even in the midst of bear markets, this kind of selling pressure is almost always at least partially reversed. We’d have a lot more confidence in that outlook for a bounce if sentiment was showing more pessimism than it is now (see chart below).
***This commentary and charts are just a portion of one of the latest fantastic reports. To try a free 14-day trial of the internationally acclaimed work that Jason Goepfert produces at SentimenTrader simply CLICK HERE.
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