''Smart Money'' Establishes Huge Long Position in Silver

August 12th, 2013

by Chris Kimble

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The lower right chart shows the most recent COT numbers, reflecting that smart money traders have accumulated a very large long position in Silver. Why do I say "smart money"? Only due to the fact that other times they took this position Silver rallied.

The upper left chart reflects that Silver Monthly is on a 10-year support line with a small bounce taking place of late.

Metals members were informed that the Gold Bugs index (HUI) created a very large bullish wick last week at a 13-year support line and a possible bullish inverse head & shoulders could be in play!

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