PHYS and PSLV – 20 APR

PHYS, the real bullion fund, was down slightly today and trimmed some of its premium to NAV down to 3.93%. Even with the pullback price stayed above the Bollinger band for a 5th day. Price bounced at support around 13.20. Resistance remains at yesterday’s open and high of 13.54. I like a possible buy here but hate the idea of buying outside of the Bollinger band. Price has tested the breakout level and held. RSI and MACD both room for more upside.

The real silver bullion fund painted another candle outside the Bollinger band, now 5 days running. This is a parabolic move and if you are in, great. Put in a trailing stop and lock in profit on a pullback. If your out, I would just watch the show and wait for a pullback. Support is the breakout level of 19.11. Resistance? There is some? A guess the Bollinger band should be acting as resistance, but it isn’t doing a very good job is it? the median line in the Andrew’s pitchfork should be resistance now and the lower line support.

The Elder impulse chart is all green and says buy.

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