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SLV Bullish Divergence

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SLV Bullish Divergence

Adam Hamilton, May 24, 2013

Quote:

Silver has suffered horrendously in 2013?s opening months, plunging dramatically to miserable lows. This exceptional weakness has naturally kindled extreme bearishness. Predictions abound for silver to continue selling off indefinitely. But amidst this severe carnage, the silver bullion held by the flagship silver ETF has remained flat. This is an extraordinary bullish divergence in the face of rotten sentiment.

...

This is an amazing bullish divergence with major implications for the entire precious-metals market. Before I dig into them, check out these charts. This first one looks at SLV?s holdings, silver, GLD?s holdings, and gold over the past couple years. To make all this diverse data perfectly comparable, each series is indexed off its respective record high set at 100. SLV?s recent divergence is truly remarkable.
Date: May 25, 2013   


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