On the 29th of February we stated that, whilst we act as medium to long term investment advisers, we still like to ensure that we are getting our client’s invested into different assets at the very best opportunity.
On the basis of entering into an asset using technical analysis we predicted that Silver, though a fantastic long term hold, was short term over bought and in line for a fall in prices. Sure enough, this came to pass with a 10% fall in prices. So, where are we now with Silver?
As you can see on the diagram below, prices are approaching a point where there is likely to be strong price consolidation. Therefore, 3,300 may well be a good opportunity to buy into Silver. Also, the technical indicators are now showing the asset ‘over sold’