Below are 2 silver charts....... quite possibly a great experience ahead, if this week is the bottom.
Below is the silver daily chart. This sell off is just what was needed, and I took advantage. The blue line is support on the daily chart.
Below is a weekly chart. The blue is resistance, if the price passes through look out above.
All things being said, if the price doesn't hold up here, all bets are off. One other thing..... If the stock markets take a hit I find it hard to comprehend the fact that silver would make a counter move - Index's down and silver up, the price would go in tandem. There is only one difference...... the flight to cash, perhaps..... Not sure how this is going to play out, but for me...... the blue line, is the line I make my decisions on.
Another note, I like picking off the pivot points at support / resistance lines. I know the rule is to buy high and sell higher, that's just me..... you do what you wish, just have your stops in place and don't over the leverage.
Below is the silver daily chart. This sell off is just what was needed, and I took advantage. The blue line is support on the daily chart.
Below is a weekly chart. The blue is resistance, if the price passes through look out above.
All things being said, if the price doesn't hold up here, all bets are off. One other thing..... If the stock markets take a hit I find it hard to comprehend the fact that silver would make a counter move - Index's down and silver up, the price would go in tandem. There is only one difference...... the flight to cash, perhaps..... Not sure how this is going to play out, but for me...... the blue line, is the line I make my decisions on.
Another note, I like picking off the pivot points at support / resistance lines. I know the rule is to buy high and sell higher, that's just me..... you do what you wish, just have your stops in place and don't over the leverage.
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