Friday, 29 April 2011

Silver hourly

Gold, S&P 500, EUR/USD, AUD/USD, and GBP/USD all made new highs in the past 24 hours, but Silver didn't. From a technical point of view, that means Silver is relatively weak. a reversal of recent behaviour, where it has been the strongest market since mid 2010. Will this relative weakness lead to absolute weakness? We should find out soon. The all time high price set in 1980 is $50, near current levels. A push upward past $50 would be a bullish signal.