In this report, I cover the early market action from London on Thursday, December 27th, 2018. I look briefly at the precious metals, the stock market, the dollar, the bond market and the price of oil.
I also talk briefly about yesterday's explosive short covering rally in the stock market and how I interpret the move and what it means for the market going forward.
Today I focus on how the silver price action yesterday was very encouraging as silver broke through key technical levels and how the gold to silver ratio also move quite sharply in favor of silver.
My conclusion is that silver could be signaling the beginning of a much bigger move higher for the precious metals in general as historically silver outperforms gold in major precious metals bull markets.
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"This Isn't Normal price Action": https://www.zerohedge.com/news/2018-12-26/isnt-normal-price-action-was-todays-historic-surge-just-bear-market-rally
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We potentially had a double bottom on the 2018 silver price chart, September and November. Hopefully $15.00 can be the new support. I thought 2016 was the start of the precious metal bull market, but we gave up all gains in Silver.
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