Silver weekly
It’s not a commodity that I have traded much, so my comments are merely observations, but this weekly chart going back to the start of 2011 paints a bleak picture for silver. In theory, since silver has a broader utilitarian appeal than gold, a global recovery should lift demand and therefore prices somewhat. In those terms, the attached picture is telling an optimistic story.
What do ForexLive readers think? Is silver still suffering a hangover from the global financial meltdown and in due time due a recovery, or is its slide more ominously predictive. We are certainly at a historically cheap level now, but is it worth a nibble for the long term?
