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[Russ]

I think it was Ray Merriman that said to watch for Silver and Gold diverging with each other as a clue to when the metals would start up again. Silver did NOT make a new low today.

Note the short term CMF on the chart is also diverging with the Money Flow from Mid April, this shows the market is bottoming.

http://stockcharts.com/c-sc/sc?s=$SILVER&p=D&yr=0&mn=3&dy=0&i=p02709163149&r=1368855661402.gif

Edited by Russ, 18 May 2013 - 12:52 AM.

[Russ]

To clarify my post, it was stated by another analyst, that if either Gold or Silver makes a new low while the other one does not then that will be a good sign of a reversal, as of this evening silver has broken to new lows from mid April, if Gold holds above the low from back then, while silver has not then that would be very bullish. However if they both collapse then 1180ish could be the next stop, although David Bensimon says 1280 could offer support if 1321 gives way, he predicted that gold would hit 1440 by last Feb, so was correct on the direction but wrong on price and time. Armstrong said before that his models were indicating that April would be the low leading to a summer rally but he and I have projections for much lower gold in the long term, 2014 for me and for him 2013-2015, he is not really sure about exactly when but his direction has been correct.

Edited by Russ, 20 May 2013 - 12:17 AM.