In a silver bear market a deep correction is the expected outcome. Bob Hoye could be right again but if we’re indeed in a silver bull market it could blow right through it. One thing to consider is that silver has already been consolidating for months.
Hoye is good, if often vague, and I pretty much agree with his take. In other words, prices might go either way. With the various hotspots around the world exploding, I would have thought the gold price would have shown more vigour. An outbreak of sanity on the war fronts, along with the call for more restraint on the part of the fed in light of today’s job figures, could pressure prices for a bit. Then again, sanity seems in short supply these days, and the job numbers are probably complete bs.
At 34.78 silver will reach a key reversal point from which a significant pullback and reversal will take place. I would not bet against it but that’s just me since I never win when I gamble on trading instincts. The math says get the hell out now since we are almost there. The reversal will come swiftly when it arrives and leave the unprepared speechless and bitter as usual since silver is notorious for its vicious vertical drops off key reversal points.
In a silver bear market a deep correction is the expected outcome. Bob Hoye could be right again but if we’re indeed in a silver bull market it could blow right through it. One thing to consider is that silver has already been consolidating for months.
Silver just broke out to a 52 week high
But Mr.Slammy showed up and corrected that promptly. We can’t have silver breaking out before the election, now can we?
SilverCrest Metals shares jumped Friday morning after agreeing to be acquired by Coeur Mining in a $1.7 billion deal
Hoye is good, if often vague, and I pretty much agree with his take. In other words, prices might go either way. With the various hotspots around the world exploding, I would have thought the gold price would have shown more vigour. An outbreak of sanity on the war fronts, along with the call for more restraint on the part of the fed in light of today’s job figures, could pressure prices for a bit. Then again, sanity seems in short supply these days, and the job numbers are probably complete bs.
At 34.78 silver will reach a key reversal point from which a significant pullback and reversal will take place. I would not bet against it but that’s just me since I never win when I gamble on trading instincts. The math says get the hell out now since we are almost there. The reversal will come swiftly when it arrives and leave the unprepared speechless and bitter as usual since silver is notorious for its vicious vertical drops off key reversal points.
You have been warned!