Loading ...… in reviewing the open interest put / call ratios across the sector … there is a reasonable chance one more good washout in the shares is possible … not so much in the metal ETFs with … with the ratios at more elevated levels beginning with GLD … notice though there is still room for more selling to close the gap.
… the silver EFT ratios are well above prices however and should be able to display relative strength buy signals into further weakness …
… this should work to support prices going into expiry on the 20th … but this does leave next week open to the possible weakness triggered by still optimistic share players … measured by the GDX and NUGT … the two most aggreges examples … here GDX could fall over 10 points …
…. and NUGT could fall into the 160’s … Ripley’s believe it or not …
… so next week could mark important bottoms.
Hang on tight folks.
Cheers all