Silver just suffered the second longest losing streak in 40 years. However, as you will see below, the silver price skyrocketed after the worst decline…
Silver
From Jason Goepfert at SentimenTrader: Silver, ugh. We took a look at the selloff in silver a few days ago, and while the selling pressure has been heavy and persistent, it wasn’t to an extent that proved to be exhaustive (i.e. leading to rallies) in the past. The metal has now declined for 11 sessions, the 2nd-longest streak in 40 years, next to 15 straight days in November 2015…
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Jason Goepfert at SentimenTrader continues: Even so, we’re still not seeing the signs of excessive pessimism that have more consistently led to sustained rallies. This is the first time in a year the Optimism Index dropped close to 40 and silver didn’t rally, suggesting we should look for bear market kinds of pessimism, which would be below 30 at a minimum.
King World News note: As Goepfert mentioned, the worst decline was November 2015. We all know what happened after that. Gold, silver and the shares went on a historic tear to the upside starting in January 2016, with the HUI skyrocketing a jaw-dropping 185% from January to August of 2016.
The charts and part of the commentary above are from SentimenTrader. To try a free 14-day trial of the internationally acclaimed work that Jason Goepfert produces at SentimenTrader simply CLICK HERE.
***KWN has now released the remarkable audio interview with London whistleblower Andrew Maguire and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: We Are Only Months Away From The End Of This Insanity In Major Markets CLICK HERE.
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