With a silver breakout occurring, the metals market might start to receive some shine, says a Bank of America Merrill Lynch technical report out Tuesday. Silver in particular is looking like it could begin a bull move higher. Recent silver breakout could indicate further trending behavior to come The recently weekly price chart of silver looks, in part, like the historical performance of the Chicago Cubs: A continuing series of lower lows and lower highs. But something different may be afoot, as a rising trend pattern might be indicating a test of key resistance. Using a break-out pattern recognition methodology,…
BAML Says Silver Breakout Is For Real
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.
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