I've been a silver bull for quite a long time (thanks to my silver guru @EdTheLorax) and i have silver account i've been slowly engrossing as i took profits from cryptomarkets. This is my proposal for a potential path forward. Buying near 16 usd per ounce is always a good price. With overvalued stocks in average, potentially war times coming, terrorism, social inestability, i believe in the next months/years we are going to see a price increase in both gold and silver, along with other precious metals, that can be physically stored. And among all of them, silver is the most undervalued one, with a tiny market cap and price near historic lows. Just wait and see. The turtles will eventually win the hares.
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We might be heading to a new buy oportunity in the low 16's This seems a rejection of the breakout and would make sense to me. Silver won't easily breakout. It has to fakeout enough times to get rid of weak hands and squeeze as much as possible breakout traders before the real move.
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At buying levels again.
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triangle near completion.
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Silver seems kinda ready. Watchout.
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I told you guys, Silver was ready. Loading leveraged longs back down in the breakout level could be a good idea if you are not already loaded on physical silver. And maybe even if you are loaded :joy:
@bagofXMR got any opinions on this aggressive rejection on silver. thinking its the final shakeout?
GeXTV
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you looking at any call options?
bagofXMR
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@mfgex, Never got into options tbh
I trade silver CFD's and invest in physical silver.
siemka
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@bagofXMR thanks for all your charts on TV, im a fan. Do you recommend any sites for buying silver? Im familiar with vaultoro.com but its only for gold.
bagofXMR
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@siemka, jmbullion for physical
Your local bank for spot paper silver
And I personaly use 1broker to degenerated longs in CFD's :D
Aqua_Trader
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agree, same bias
Keops
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I agree with you there was a nice opportunity to cash out some cryptos for silvah :) As shown below BTC priced in silver OZ:
patience is key !
Cheers,
Keops
bagofXMR
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@Keops, Thanks for passing by and sharing your views mate :D
I love the first chart btw
Keops
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@bagofXMR, thank you bro you are very welcome! Today is another bargain basement sale for silver!