Yes, and No. Yes it can and if it does there isn’t much support between there and $20. No, I don’t believe it will. Each major leg down has stopped at higher lows from the previous and is likely to do so here as well. A clue might come from gold which is sitting just above it’s 50 day mvg. avg. If gold breaks below the 50 day it probably falls to the 200 day around $1900 and silver would then likely go towards $20.
Yes, and No. Yes it can and if it does there isn’t much support between there and $20. No, I don’t believe it will. Each major leg down has stopped at higher lows from the previous and is likely to do so here as well. A clue might come from gold which is sitting just above it’s 50 day mvg. avg. If gold breaks below the 50 day it probably falls to the 200 day around $1900 and silver would then likely go towards $20.
In this post – see comments … I made a comment about next cycle low around 08/17 or next FIB around 08/31
https://goldtadise.com/?p=587503#comments
You might also like this follow-up:
https://goldtadise.com/?p=588747#comments