Thursday, 15 December 2011

Silver bull market likely finished

The false break higher / throw over scenario on the long term chart has been confirmed this week, signalling that silver's bull market is likely finished, at this degree of trend.

Gold wobbles

The parallel trend lines I have been banging on about for months have acted as a valuable edge as gold stair stepped higher in its bull market of the early years of this century. It's too early to say whether the same lines or trend line angle will provide any guidance in the case that Gold continues lower, but certainly last nights thrust downwards through the nearby line warns of weakness ahead.

Zooming out to a longer term view, and changing from arithmetic to log scale, we see that the Gold bull market at this degree of trend is still intact.