Thursday, July 1, 2010

Pullback In Silver: Buying Opportunity

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Gold, silver & commodities are retreating  today, they'd been outperformers for the quarter and YTD. The charts remain longer term bullish, but some near term pullback is occuring. One of Itz Piz holding is Silver Wheaton (SLW) it made an attempt to breakout over $21.50 resistance bbut looks like it will retreat back towards the $18 level. Use the weakness to buy or add to positions. The Silver ETF (SLV) on a weekly chart also remains longer term bullish.

Howard Ruff, Ruff Times newsletter recently on CNBC cited $100 price target for silver.

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