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FuturesTechs Daily Blog – Silver Technical Analysis – on a tear!

Below is today’s sample of one of our reports, looking at Silver, which is “going parabolic” as we put it!

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Further gains since we last wrote, and this is “going parabolic” now, it seems, adding solid percentage gains by the day. A month ago we were trading around $35, so have added near on 30% in that short space of time. This is no reason to go short. Selling something that’s going up is dangerous, bordering on stupid. Sure, it probably can’t go on, but for now there’s no signs of a reversal in sight. There is scope for this move to head to 47.580 in the short term as this is where the top line of the channel sits. The daily RSI is at it’s highest reading since April 2006, but as we said earlier in the week this isn’t a sell signal per se, a move back below 75 from here gives a sell signal…