Double-Bottom In Silver & Deep Value Opportunities In Silver Growth Stocks
Silver peaked at $121/oz amid a speculative frenzy in January, since then it has dropped ~50%, but last week silver reversed higher and a potential double-bottom was put in place.
After soaring above $120/oz during a speculative frenzy in January, silver finds itself in the fifth month of a cyclical bear market.
Silver (Monthly)
Silver prices have fallen below US$70/oz, pressured by the prospect of higher interest rates, which has led to reduced ETF positions (silver ETF holdings have declined by 74 million ounces since the beginning of the year), and an overall speculative deleveraging (lower futures open interest and reduced options activity).
