The weekly view shows that Silver, despite the current high levels for both RSI and Stochs, still has room to run on the heels of what is now a confirmed breakout above multiple resistance points, wma's, and the corrective trendline from last April's peak (not drawn).
It is interesting to observe that both the RSI and Stochs are at comparable points to 24 months ago in early September 2010 when Silver broke above $20 an ounce and went on its amazing 8 month run up to just under $50. Both indicators clearly stayed overbought for pretty much that entire stretch. Also note that MACD is just in the process of turning positive and has plenty of upside room before it reaches overbought levels.
Looking to see Silver test resistance soon around the February peak (37.58) with a significant reaction then becoming a high probability ...but of course this is Silver, so expect the unexpected from this wild schizoid beast of a market, lol...bull markets do tend to surprize to the upside though.
