Silver Breaking Above 2015 Falling Resistance

 

loneranger

Do you like the idea of buying low and selling higher? When it comes to something that is low in price, Silver and Silver Corp (SVM) don’t have much to brag about in the past 4-years!

The chart below compares the performance of the S&P 500 to Silver and SVM over the past 4-years. As you can see the spread between the S&P 500 and SLV is 100% over the past 4-years. SVM has lost 87% of its value during that time!

performance4yearssilversvmspymay13

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The chart below looks at Silver futures of the past few years and sentiment for the Commodities complex from Sentiment Trader.com

silverattempting2015resistancebreakoutmay13

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On a short-term basis Silver is working on a breakout of 2015 resistance after potentially putting in a base over the past 6-months.

Should the GDXJ/GDX and Silver/Gold ratio both turn up, it would be a positive sign for this very hard hit sector.

 

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