Monday, March 21, 2011

Silver watch 03-12 Update I

It appears silver has reached an intermediate top and pivoted to the downside.  Should bottom in the first half of Apr.  Here is the picture:

GL traders, do your own analysis....

Update 03-21 7:41pm EDT

"The spread between the March, May and July contracts for all practical purposes is zero with the March and May trading even. I would watch out if March goes to a premium to the May contract as that would portend that there are issues related to the delivery process which are bullish for the market. Such a development would indicate that the longs are getting ready to squeeze the shorts."

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