Is Now the Opportune Time to Buy Silver? | The Mesh Report

Is Now the Opportune Time to Buy Silver?

Mike Hammer February 13, 2020 Comments Off on Is Now the Opportune Time to Buy Silver?

Just 9 short days ago your friendly Gold Enthusiast advised that he’s waiting for signs of an uptrend before buying into silver. Just exactly what that means might be up for debate; usually, an uptrend requires starting from a decent base with relatively low volume, and from there a rise in both price and volume.

Are we seeing that in the current chart for SLV?

(Source: Fidelity.com)

The 6-month chart is both enlightening and confusing.  During Example 1, we see what looks like a promising little candlestick base occuring at the same time as a low RSI – but silver doesn’t really go anywhere, only up about 40 cents before the run dies out.

Example 2 is a little better from a price and RSI perspective – a gain of 1.40 as silver ran from an RSI down around 32 up to 70.  But volume didn’t give a good indication of going down before the run, then increasing during the run.

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