Well known demand zone to those frequent trading the pm complex, goes back to 2009, where it's original base build before the explosion higher.
Apart from the big positive divergence, momentum shows a double IH&S, hinting at a possible reaction at the same zone.
Also considering silver's dual use as industrial metal as well,even by less percentage of its production, it's good that DJ USS Industrial Metals Index broke it's intermediate down trending line from 2011 highs.
Cheers
Panos
Apart from the big positive divergence, momentum shows a double IH&S, hinting at a possible reaction at the same zone.
Also considering silver's dual use as industrial metal as well,even by less percentage of its production, it's good that DJ USS Industrial Metals Index broke it's intermediate down trending line from 2011 highs.
Cheers
Panos
