Tag – Your It – How I See Silver Trading During November
In my earlier post on Seasonality, I talked about the trend for the metals to be down in November and the fact that Silver has been down for the last eight Novembers. I also stated that by the end of November I expect Silver to actually be higher and possibly a lot higher. Here is how I see us getting there. I look for a quick dip to tag the 50 day mvg. avg. near 23.40, early in this week, followed by a strong move(probably after the FED announcement) up to tag the 200 day around 25.50 by week’s end. Then, this is where the November seasonality kicks in, with silver drifting between those two sets of moving averages for the rest of the month until Thanksgiving. After the holiday weekend, I see silver breaking out above the 200 day probably in those last two trading days of the month, Monday Nov. 29th and Tuesday Nov. 30th.
I have to agree with Gary Savage to forget about trading the PM markets because the Algo program is set to “bore them out”. So I am focused on things like IONQ which is a contrarians, like me, dream come true. I am also stalking DWAC looking for the right entry point.
Platinum looks great here.