The precious metals feel like a crowded trade at these levels. It’s risen for 4 straight weeks busting out of a bearish wedge pattern and now the RSI is right at resistance. A small 1-2 wk pause would be healthy maybe back to the top part of the wedge before it reloads and heads to new highs. I’m currently flat all metals at this point but will look for an entry on a pullback as any new positions here doesn’t have a favorable risk/reward. If your long from lower levels you could maybe sell some and let the rest run, but inaction will leave you at the mercy of Mr. Market and it’s mood swings.

silver

The following silver mining stocks are showing signs of stalling as RSI and Full Sto look to be rolling over. One other note of interest is how the gold etf (GLD) was up today and many of the gold mining stocks were in the red. Another indication that buying interest is waning.

silver

silver