Precious Metals Leader Makes a Move…

 

First Majestic Silver (AG), makes a move above the 50 day moving average.  Many others in the PM sector need to get above the 50 for the ‘catch up’ move NFTRH has been speculating upon.

I have been thinking silver and gold would decline a bit more as the stocks continued to diverge.  But is today the start of the expected rally for the stocks and the metals?  NFTRH’s interim ‘Notes’ edition had this to say (about the precious metals):

“I cannot apologize for feeling bullish on a risk v. reward basis.  The ingredients are in place, with poor sentiment and a slight bullish divergence in the short term pricing of the miner indexes vs. the metals.  Silver and gold appear technically to have lower to go, with silver continuing to target 30 and gold the low to mid 1400’s.”

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