SILVER - Contraction Then Pump Into Bull Market

SILVER

Ok so I often joke about how slow Silver is but considering how Gold is moving I think this is worth picking some up here.

I think the way to best understand this area is that the bowled dump and recovery is Wyckoff CHoCH Change of Character.

Notice how before that point price action is quite noisy and wobbly.

But after there is a fairly tight 3 wave pattern; back up.

And that is followed by a contraction pattern that has lasted almost a year.

Having spent so long in contraction and having maintained this overall area for such a long time; Silver may be due a pop and it could be the start of a bull market

I like SILVER over GOLD because it appears to have some amount of protection within the contraction area.

And so currently it doesn't look like it will dip below $22 unless there is another downside shakeout.

So I have made an entry here and may buy more down the road 👍.

Not advice

Comment:

First accurate high time frame call you've ever seen ? Hit the "Boost" button if it is / or if you just like the content 😅👍.

This is working well and silver could be heading Up Up Up 🚀.