This is just a quick note about silver’s intraday rally. It’s a good thing that we recently wrote about this outperformance actually being a bearish confirmation, as you already know the details. The thing that we would like to point out today is that it’s a repeat of the signal and this makes it even more reliable.

To be honest, it’s not that surprising to see this kind of action right now. If there’s a big slide coming, then it’s not odd for the preceding sign to also be quite visible.

All in all, the outlook remains bearish.

Thank you.

Sincerely,
Przemyslaw Radomski, CFA
Founder, Editor-in-chief, Gold & Silver Fund Manager

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