Thoughts on silver:
- Reaction from Fib golden zone but looks like a dead cat bounce
- No high was retested and looks like a lower high is being created
- Slow stochastic is trading below 50 signifying some bearish sentiment
- Weekly candle looks like a bearish doji
- Candle stick pattern resembles a potential double top forming
I still have dry powder (from taking profits at $100 price point) for more lump sum silver buys but only when we get out of this range area.
If this fib golden zone doesn't hold, I like the $50 weekly support/demand level as a next potential area of relief and where I would buying next.
My weekly DCA is still continuing.
- Reaction from Fib golden zone but looks like a dead cat bounce
- No high was retested and looks like a lower high is being created
- Slow stochastic is trading below 50 signifying some bearish sentiment
- Weekly candle looks like a bearish doji
- Candle stick pattern resembles a potential double top forming
I still have dry powder (from taking profits at $100 price point) for more lump sum silver buys but only when we get out of this range area.
If this fib golden zone doesn't hold, I like the $50 weekly support/demand level as a next potential area of relief and where I would buying next.
My weekly DCA is still continuing.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.