Higher low on PVT in SILVER
Updated
This is the first higher low on the PVT in silver after a high volume event. It's my opinion that it likely shows the selloff is over for the major institutions. They see it is now a buyers market. See after each drop (circled) it reaches a new lower low. But after the last one, we hit a higher low.
I'm a buyer, but this is not financial advice.
I'm a buyer, but this is not financial advice.
Note
I am still a buyer. I've heard some argue for a low of $19.50, but I don't think we'll even get that low. We are even lower because of Fed fears, which will likely prove temporary, since they can't raise rates by very much without causing a financial strain on the U.S. Treasury. Maybe we get to 0.75%, anyway, inflation will continue well into 2022, and maintained above 2% according to Jerome Powell. And many countries are suffering with inflation, all of which may want to have real assets.Notice the descending channel below is always bounced off of. I think that will continue. It also seems to me that on the 1-hour, PVT is starting to have a trend reversal. In the two bottoms (1-hour chart), the second is lower price, but higher PVT. So close to the bottom. I am adding to my silver position through physical and PSLV! But this is not financial advice!
Note
This has turned out nicely. Turning around, I believe we will see $26 before the end of 2022, likely a lot sooner with rate hikes and market turbulence.
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