Melman on Gold & Silver
February 2011 by Leonard MelmanI hope long-term readers would agree that while your columnist does occasionally carry some arguments to an extreme length, I usually stay within the bounds of reason. I am pointing this out because I was struck by an economic vision a few days ago that could test those bounds.
It may be no exaggeration at all to state that the past thirty days have seen a collection of headlines that could affect the world profoundly for years to come.
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.
All we can say is “Welcome to 2012,” and if the first part of January is any indication, it is going to be quite a year on many fronts from the ongoing international financial crisis to the progress of a presidential election set to end this coming November.
This general time frame appears to be a particularly important juncture in the precious metals markets and, therefore, we should present clearly understandable reasons why our opinion leans heavily toward continuation of the precious metals bull market...
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