Silver Breaks Out

The dollar is up slightly, the euro is weak, gold is flat, equities are down, and oil is down.  So the trend is almost in line, because then silver broke out.  Well, although surprised, I am not too much so.  Silver is the most under appreciated asset class, as it is a main industrial component and also defines monie.  So silver has broken the trend.

The most interesting thing is that it has done it alone.  Their has been no major currencie breakout, gold is flat, and oil is down.  And it is interesting that oil is down, because usually silver and oil trade closely together.  This leads me to believe either oil is about to see a huge gain, or silver will pullback.  Either way, silver has made yet another run at its all time nominal high of $50, and once that number is breached, the sky is the limit.