It's being said that SLV is way ahead of itself and there are aggressive traders want to jump in and short SLV whenever any weakness sign shows up. Well, I see one signal today. As shown below in the SLV:GLD chart. For the past seven months, SLV:GLD is in an uptrend channel. It broke out the upper channle line a couple of days ago and now it comes back to the channel again. If it does close below the channel line, it forms a well-studied "channel overshoot reversal" pattern and indicates that SLV:GLD will reverse here. Traders can short SLV and long GLD to profit from the expected move.
Disclosures: The author currently doesn't have any position of either SLV or GLD, but he may initiate short position of SLV and / or long position of GLD in the next 72 hours.
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