NQ most always catches back up to the EMA 20, and it's very extended!
Silver is between 0.5% and 0.6% retracement just like it was in 2008 before it dropped. The next couple of days will be key.
I think this will be the high we'll see for a long time, based on this level being support in the past, many times over and over.. It won't go straight down, but this is likely the top.
This is a for fun idea, I'm consulting my crystal ball here.. =)
Oil's a pretty good price right now,.. the economy will eventually need more oil again! .. Might take a few years, or it could be quick. Even if the economy is running on printed paper,.. oil is a real thing that should have value in the future.
Difficult to predict anything at the moment, but here are the possible scenarios.
Was that all silver will drop? Now that the gold/silver ratio is recovering, it could very well be... I am hoping for one more pullback, but not very optimistic about it happening. FED has let the genie out of the bottle, everyone knows what's coming.
Bearing upward wedge happening again. I published the previous wedge, it happened quick. Let's see this time.
If it reaches, and it probably will, 0.5 Fib is probably the last stop up...
My idea of the future. Anything can happen, just wanted to put this in on a chart to see how my vision vs. reality comes along. There are wayy more than 2 trillion reasons gold will go up in the future =)
Just charting out 1929's path, since so far it has been so similar, this is what the future would look like if it repeats exactly the same.
I believe it will reject 2648 and fall further, but points can be made for 2900 also. We will see.
If all supports fail, expect below 700. It's a very,very,very.. possible scenario, be careful and good luck to everyone in these crazy times.