Note
I don't post monthly charts too often but it can really help grasp scale of what is to come. Notice my wavetrend/stoch,rsi indicator and the orange boxes I highlighted. This goes back quite a ways and is (strangely) supportive and resistive. We are now above it and it just happened the last few months. Is this just the beginning? Note
I'm not going to short silver but I would not rule out the yellow arrow. I think it's a 40% chance but I'm not selling or changing my position.. just bracing for a possible head fake here. Regardless.. don't lose sight of the forest for the trees. Personally, I'll buy more if it drops again.. so here's to hoping for another drop.
Note
^ see yellow arrow for 'the clue'Note
this yellow line is the key breakout support level. I really, really like it in this zone but know the possibilities for failure. The pattern is bullish and will hold and add more. The next two months, I believe, will be a new chapter in the metals. If I am wrong and we breakdown, I will take advantage of the lower prices in the physical metal. Note
PLEASE CONSIDER THIS A WARNING. I'm wildly bullish on precious metals. However, I'm rooting for them to go cheaper again because I like to acquire the physical. While I think that time is up and they are about to skyrocket, I don't want to dismiss another major crash in the market.. and also in metals, miners, crypto.. everything. It's possible. I have learned to prepare and hedge for events like this and wouldn't be surprised to see silver at $44.00 in the next two months. But I also wouldn't be surprised to see silver back at $9.00-11.00 again.. Please be careful and do not invest what you're not willing to lose. While this pattern and projection look likely, look at the other argument. I'm watching this yellow line/support area to make wise decisions on my contracts. Note
I forgot to explain- the apex of of these wedges is almost always very volatile. The apex is where the two lines of that lower wedge intersect. When you draw a vertical line from that point, you'll often see wild price fluctuations and many traders confused as to what's happening. Sometimes price will crash all the way back down to the tip of the apex. Be smart.Note
This is SILVER/GOLD ratio. March 2020 marked the bottom of this ratio (inverse for gold:silver). I always recommend the real metal first.. we could have a crisis and paper market/derivative collapse. When silver reflects it's true value, it's going to be a very serious problem. There's a reason it's being suppressed, shorted, leased, manipulated. Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.