Commodity technical analysis adam smith associates
Silver Silver is lagging gold on the way up. At some point that can change. Right now the large CFTC positions are working on putting pressure near term but are also indicative of the longer term interest in the metal. The 20dma at 18.10 is an important support to watch and below that 17.70 would be the next in case prices dip further. Silver can react as the base metals are selling off and so could lag gold in the short term. It may catch up later. Here is the gold silver ration chart when it clearly indicates a break down in the ratio meaning that silver starts to outperform gold longer term. However in the short term that has stopped happening. The ratio is going sideways. I will note when it makes a new low. Soy Bean Not much has happened since my last post on Soy Bean. The positive divergence on RSI is maintained and momentum indicators have crossed over to the buy side. The important support remains the lower end of this potential triangle at