Another good day for silver

Silver was up nicely again across the pond this morning. Tonight should be an interesting session in Asia, with rumors of Chinese stimulus gaining steam.


Regarding the chart, silver has broken above what I consider to be the top end of the recent channel. Defined resistance levels look to be $32.50 followed by $35.00. The first should prove to be an interesting battleground this week.


I continue to like silver both short and long term, and continue to think that cyclical equities (particularly financials) will follow PMs upwards over the next several weeks.





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