Roebear:
HL recieved nice volume-supported buying today, but may be techically overbought in a daily chart. Higher prices, nevertheless, should result.
Should HL trade above $6.375 in the coming weeks, and hold it with convincing technical action, it may well signal the bottom has been put-in. However, a re-test, or move to another low, following significant trading above that $6+ level, should also be interpreted as confirmation of the bull-trend.
It may be the short-covering moving silver will be exciting, although not long lived. However, I do anticipate a new floor and ceiling price to be established. I anticipate short-covering in gold to follow silver's lead, if indeed, silver's move proves as dramatic as expected.
The major markets appear to be a bit oversold, but are still, for the most part, recklessly overpriced. I would not be surprised to witness attempts to move higher, but I do not believe it will come at the expense of the metals.
Yours, T.V.H. |
