Loading ...Silver at interesting perhaps critical juncture
Here is a long term Silver chart.
Notice we are close to the 2008 high at 21.44 as well as the first Fib retracement 21.66.
We all know what happened after the high in 2008 (I still have the scars) I have been selling into this rally but retain a core position in Silver… but I am on the fence. I want to see what happens here.
God forbid we see a repeat of the 2008 financial crisis. I was looking at UK bank stocks for example, grim! Barclays BCS 47.27 high prior to the 2008 banking crisis. Now trading at 6.89 breaking support.
For me caution is called for here.
It’sionteresting how the relationship between the 2008 high at 21 and the 2011 high st $50 kind of forecast the bear market low in 2015-2016 at 13.92, as long as you do it on a log chart though!
How did the 2008 and 2011 high forecast the low at 13.92. The chart I posted is Log scale? Just curious.