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Silver closed above its 50-day MA this week -- generally considered a buy signal -- which could encourage bulls to add to their long positions. Movement from 3,071.50 could be counted impulsively as shown on the chart below.
On the other hand, according to the wave count represented on the alternative chart, a correction by silver might not be finished and silver's recent rally could be just a final wave of corrective wave [b].
Until further price direction is clear, the best strategy is to forget any bias and stay out of the market. Buyers should be especially careful to avoid falling into a bull trap.
Recently, with gold, silver, and gold stocks overbought by almost every technical measurement, almost every gold investor in the West knew there had to be a pause in the action....
Who’s the leader of the club that was made for me. JOE-BID-eeeen. Joe Biden, Joe Biden forever hold your banner high. High, High. For those of you young folks who...
Gold slides once again today, proving that yesterday’s $67 slide was not accidental.Recent Trends in Gold and USD IndexAnd it’s happening without a rally in the USD...
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