Shared last week that SLV looked to be creating a “Double Top” at key resistance in the chart below and that if you are interested in scoring on defense, this was a good price point to short Silver or pick up some ZSL(see post here)


Three weeks ago I ask, “Is a 40% gain in 2 days enough” as investors who bought ZSL were up more than 40% in 2 days, as SLV broke below is flag support line (see post here)   Below is an update on Silver, reflecting what looks like another break of support on a flag pattern…


Today is long from over with, yet early this morning Silver is breaking below support of another flag/pennant pattern! For those that took positions last week to score on defense by owning ZSL, this breakdown should be beneficial

Earlier in the week Freeport McMoran (FCX) looked to be up against key resistance. (See post here)  Last couple of days FCX has reflected relative weakness, by either not moving as high during rallies or falling more during declines.  Continue to keep a close on Doc Copper/FCX for leading stock market clues!

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