Silver hit the 50% retracement, PL & PA - (6/15/06)
Monday I set the stage for Silver's support points and it went right through the first to the second support point on Wednesday at about 950, Actually, a low of 945 which only one trade was at. Everyone is playing the 50% retracement. The action is up to sideways for a little while but with the interrest rates rising and the fear of a recession the metals will be under pressure for awhile until the fall. Then the inflationary fires will kick in again.
Platinum will start to rise again as a stronger market than silver.
Paladium will rise faster as automotive switches to PAL for the price benefits.
These are long term predictions and very thin markets for commodity trades so its better to buy the stocks in these suppliers of the PMG's.
