August 30, 2010

Gene Arensberg: Something changed in silver market last week

"Silver turned in an “outside reversal” Tuesday, August 24 (which happened to coincide with COT reporting cutoff day), and in the process it surged up and out of the wide triangular consolidation which, as regular readers know, we have been following here at Got Gold Report all along. An outside reversal occurs when the trading breaks below the previous day’s lows and then reverses to close higher than the previous day’s high. Outside reversals often, but not always, mark significant turning points and technically minded traders view such action as a more bullish event...."

Gene Arensberg's weekly "Got Gold Report" concentrates on silver and he writes that something changed in the silver market last week, starting with silver's "outside reversal" day on Tuesday, and it looks bullish.
Arensberg's commentary is headlined "Focus on Silver" and you can find it at the Got Gold Report Internet site HERE

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