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User ID: 43598928
09/02/2013 10:25 PM
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Silver is experiencing an explosive move of over $6 since the low in late June and is overbought, so long-term investors should look to add on healthy pullbacks to the 20-day ($22.16) or 50-day (20.63). I believe the major two-year downtrend was broken this past month in early August, and possibly after a healthy pullback, silver could rally past the 200-day at ($26.26). Investors should also consider the silver miners (SIL) which are performing nicely. Silver is outperforming other commodities over this past three-month rally. This may be a signal that we could once again see silver make a powerful move similar to 2010 when silver ran from $18 to around $50.
[link to seekingalpha.com]