Silver at Major Support. What Now?
Silver Daily for last 13ish months above.
Silver Daily Zoomed in to most recent action below.
At a crossroads. Hold?
Silver Daily for last 13ish months above.
Silver Daily Zoomed in to most recent action below.
At a crossroads. Hold?
Today started off very promising. We made a swing low in the miners, but then the hammer came down. I’ll admit it was not exactly what I was expecting, but I am not going to abandon ship until my technical thesis completely breaks down. A one day deviation from expectations is not going to do it, especially if yesterday’s swing low is still intact, which as of right now it is.
October is going to tell the tale, IMO. In the very short run I would like to see the miners get back to the 20 dma.
I would be careful, i bought small amount of puts shortly after the open and some HUV. If we close in the red today, on energy, metals, and markets… Monday will be a baaaad day for those long.
Today’s candle in silver is insane, to say the least.