Melman on Gold & Silver
The Federal Reserve just reported that inflation exceeded their 2% target for the first time in five years and the University of Michigan reported their inflationary expectations have now risen to 2.7%.
...when we begin to observe what appears to be an early indication toward a more bullish stance in one of the major miners, that can reasonably provide us with a rising degree of optimism for the sector itself.
There is little question that the crisis in Europe completely dominated world financial headlines last month. We saw nations such as Finland, Austria, France, Belgium and Hungary, which had previously appeared untouched by developments, suddenly become vulnerable to higher domestic interest rates.
These moves were the first serious interruption to the bull market, which had not encountered a serious decline since the election of November, 2016. Since general market moves have been one of the most reliable historic indicators of precious metals market moves, we take a close look at these developments.
Next, all of silver’s chart action since mid-2011 has taken place under a declining trend line (dotted line), which has held for more than four years. Any trendline of that duration must be taken seriously.
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