finally reached 10 year trendline
more important than the trendline to me is psychology and momentum
trendlines are beginner/retail shit. they work but not in the way most people think
probably will break through it, down to undevalued and be scooped up. $18-$19 is a little under fair value (mining production cost) but $15 is just dirt cheap.
but here's the rub. markets take a LONG TIME to accumulate, distribute. but once they do, the breakout happens.
the only people who are selling silver right now are longs from sub $18. do you really think anyone is providing liquidity to the downside as a spec SHORT? no way.
they are selling to new spec longs and realizing a nice USD profit. of coures, they have been selling all the way down from $50, but the best liquidity exists between $19 and $15.
said it many times. i have limit orders at $17.50ish and $15.50ish
good luck
more important than the trendline to me is psychology and momentum
trendlines are beginner/retail shit. they work but not in the way most people think
probably will break through it, down to undevalued and be scooped up. $18-$19 is a little under fair value (mining production cost) but $15 is just dirt cheap.
but here's the rub. markets take a LONG TIME to accumulate, distribute. but once they do, the breakout happens.
the only people who are selling silver right now are longs from sub $18. do you really think anyone is providing liquidity to the downside as a spec SHORT? no way.
they are selling to new spec longs and realizing a nice USD profit. of coures, they have been selling all the way down from $50, but the best liquidity exists between $19 and $15.
said it many times. i have limit orders at $17.50ish and $15.50ish
good luck
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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.