When I have Dana Lyons on the show we talk about a number of different markets. Today we focus on silver because he sees a couple reasons for silver to bounce from its current level. Chart 1 below outlines the uptrend support line that silver is testing. We also discuss the unwind of the massive net short COT commercials position (Chart 2) and the typical bottom for gold in a year. All of these factors are bullish for the metal.
A final comment is made on the Dow in terms of the years ending in certain numbers. See the Chart 3 which shows how bad the second half of years ending in 7 are.
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Chart 1
Chart 2
Chart 3
