Loading ...Silver and the 100 WMA…
During the last bull, silver tested the 100 WMA one time after each consolidation.
The only time price continued lower without an immediate rebound was the 2008 crash.
Will the same thing apply this time? I’m not certain at all, since the structure this time with respect to the very long term MAs is very different now vs then.
That being said, if you are a silver bull, you could do a lot worse than buying silver right here, IMO. It’s about probabilities. Could silver continue to $21, 19 or 18? Sure, but this is the first place where you can say, at least based on recent history, that it would be a good place to at least take a nibble.
My indicator timing tools for anything more than c/t bounces says the next major bottom is 2-3 months away, at a minimum. Doesn’t mean you can’t play the bounces, just don’t marry them or hope for much.