According to RSI readings, I'm going against the crowd here which expects a pull-back in gold and silver due to overbought conditions.
My thesis is that silver is consolidating and compressing and it is not showing any signs of weakness.
New buyers are coming in every day.
Last year traders were exiting their profitable gold trades early thinking it was going to pull back but it didn't - it kept running. The same thing may happen this year. Precious metals will not give anyone a chance to jump in again and will keep running until they are slammed down hard again.
My thesis is that silver is consolidating and compressing and it is not showing any signs of weakness.
New buyers are coming in every day.
Last year traders were exiting their profitable gold trades early thinking it was going to pull back but it didn't - it kept running. The same thing may happen this year. Precious metals will not give anyone a chance to jump in again and will keep running until they are slammed down hard again.