Get ready for a bounce in silver

Posted by Jeff Clark, Stansbury report

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slv chart

As of last Friday, the price of silver had closed lower for 12 days in a row. I can’t recall any other time in my 30-plus-year career when silver has put together such a long string of losses. (Crux note: We looked it up. It’s the longest losing streak for silver in 65 years.)

The price of the metal is down around 8% for the month. But there is some good news…

With conditions stretched so far to the downside, silver is poised for a bounce…

Take a look at this 60-minute chart of the iShares Silver Trust Fund (SLV)…

slv chart

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