Silver: more patience needed?
I found this 2 charts about Silver its advancing and consolidation periods on Twitter, and think they are worth a look:
the author can be listened at in the following Precious metals update:
https://www.youtube.com/watch?v=fpRC5iySZaE&feature=youtu.be
This shows that the next several month(s) will be crucial in breaking out for silver! We either have passed the consolidation period, or need an additional 6 months!
Additionally, looking at 2003-2004 time frame as a example of the beginning of the bull market and continuation of US$ bear market, we first had to break the 200 MA and then retest it before really advancing. This means we have to break out first to $19-$20, re-test the $17 level, and then higher targets for silver can be seen.
Thanks Alex
My Motto used to be
Patience is for Sissies
Now its just Patience Sucks
Nice Alex. Thanks.
Excellent. Thanks.
crazy how it rides the 200. shoulda tagged it and moved on but nadda. G7 crap and trade crap should drive the dollar lower, seems as if gold waits for the fomc next week again, like clockwork. Panic jumping around from country to country, who’s next????