Silver gapped across the downtrend line. A clear signal. Note that even clear signals don’t always result in profitable trades. On the other hand trades made without signals are much more likely to be losers. Market rumor has it that the hedge funds are squeezing shorts. Not known if these are boxers or jockeys. We laid down a small unit bet on silver. As we did with gold which has a similar chart.
FXE is also on the rise. We are not sanguine about silver and gold but we try to ignore our bloody emotions and do what the chart says. We actually think the metals should decline some more — but…the markets will do what they do…. won’t they?