With the 14 day RSI rising above 90 this morning in silver, reflecting the parabolic nature of its recent move, all it took was a slight $ bounce against the euro after the early morning’s weakness to get silver and other commodities to reverse course. In terms of the broader market, silver is a great gauge to watch both in its non $ play, gold friend play of course and industrial use/global growth story but also the momentum game in the short term as markets play a game of chicken with the end of Fed Treasury purchases in two months.
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