"Smart Money" Establishes Huge Long Position in Silver

By Chris Kimble of Kimble Charting Solutions
August 12, 2013

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The lower right chart shows the most recent COT numbers, reflecting that smart money traders have accumulated a very large long position in Silver. Why do I say "smart money"? Only due to the fact that other times they took this position Silver rallied.

The upper left chart reflects that Silver Monthly is on a 10-year support line with a small bounce taking place of late.

 

 

Metals members were informed that the Gold Bugs index (HUI) created a very large bullish wick last week at a 13-year support line and a possible bullish inverse head & shoulders could be in play!



For information about Kimble Charting Solutions, send an email to services@kimblechartingsolutions.com.

 

 

 

 

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