UnknownUnicorn22630425

UnknownUnicorn22630425

Added a new long to silver. Still heavily-long targeting 30. After which I will await a pull-back and go back in. FOMC statement today is bullish for stocks and precious metals. No tapering. No rate-hikes. Two rate-hikes by 2023 - too far-away and too speculative. Still bullish stocks and precious metals.

UnknownUnicorn22630425

According to RSI readings, I'm going against the crowd here which expects a pull-back in gold and silver due to overbought conditions. My thesis is that silver is consolidating and compressing and it is not showing any signs of weakness. New buyers are coming in every day. Last year traders were exiting their profitable gold trades early thinking it was...

UnknownUnicorn22630425

Ok, I am calling it. No pull-back. The trend in gold is still bullish considering daily close. No sign of reversion. Last year many traders exited their positions when gold was running, but it kept running.... the same thing is happening this year. Retail is piling up in shorts expecting a pull-back here. The market may often do the opposite of what people...

UnknownUnicorn22630425

Silver closed at the highest weekly close in a long time - 27.5+ Stair-step bullish pattern. The trend is your friend. There is nothing to indicate that the bullish pattern in gold and silver has reverted or will invert soon. Gold dips at 1866 were bought heavily. On silver unless 26.75 breaks, this pattern is still bullish and will stay long.