Tuesday, May 8, 2012

Silver ETF oversold

This is an Etrade chart from around 9:30 am on May 8th 2012. Click the chart to enlarge it. Are we at the bottom?  It is as oversold as it was in December but the price is not as low as it went back then. It has been a rough year so far for silver traders. I do not think now is a good time to sell silver. I do realize it could go lower but on all accounts SLV is oversold. (SLV is 28.48 now )

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