Candle on daily bounced right off of Major support
• Below 10 day and 20 days away
• Sellers faded out with selling pressure from the dollar commodities have a chance to rise
○ My Thought:
Gold and Silver have been pumping although I prefer Silver. I feel it is much safer than gold. It is less volatile than gold. Once we held that $22 level that was the motivation we felt we needed to start going long. Also gold is not as safe anymore as it use to be. Silver takes lot more for it to move in a major way. While gold is becoming increasingly volatile silver seems to remain in a certain rang that it almost takes an act of God hypothetically speaking for it to make a severe move downward. Even if it does n would at most we would see a slight move down to $21.70
ETF: SLV:
Overall: Bullish
Today: Bullish
• Below 10 day and 20 days away
• Sellers faded out with selling pressure from the dollar commodities have a chance to rise
○ My Thought:
Gold and Silver have been pumping although I prefer Silver. I feel it is much safer than gold. It is less volatile than gold. Once we held that $22 level that was the motivation we felt we needed to start going long. Also gold is not as safe anymore as it use to be. Silver takes lot more for it to move in a major way. While gold is becoming increasingly volatile silver seems to remain in a certain rang that it almost takes an act of God hypothetically speaking for it to make a severe move downward. Even if it does n would at most we would see a slight move down to $21.70
ETF: SLV:
Overall: Bullish
Today: Bullish