The precious metal bulls have summoned the
battle cry that the bear market is over! Well, just maybe those bulls might
want to tone down such rhetoric. Yes, the
metals have had a good “bear-market rally,” but that is all what it has been.
That statement is based on my Exponential Moving Average Strategy, which is
still bearish. Upside price target is for this bear market rally is $15.50. See
the following daily chart for $SLV. The $15.50 price objective level is the throw back to the downward sloping "Bearish Support Line."
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