Silver Unwinds Its Overbought Condition
Feb-07 07:16By: Taso Anastasiou
Silver
- A sharp sell-off in Silver from the January high highlights a top in the long-term trend.
- This marks the beginning of a long overdue correction to unwind an exteme overbought reading in the trend.
- The $50.00 handle represents a key support - this level capped gains in 1980 and 2011 and was breached last year.
- A retracement towards $50.00 would represent a complete unwinding of the overbought condition.
