Good opportunity for investor who are not heavy leveraged and can buy and hold position for 1-5 years. silver move down from 50 to 15 was just correction after massive move who started 2008 and ended after almost 3 years. Now after 6 years of down cycle in 2016 mid we make higher high what is first signal that market condition are changing and we consolidate or even make full reversal. After higher high was print on chart it takes 1 year to make ABC most simple and most powerful correction. And recent big spike below and rejection indicates changes as well. I will try to update daily chart when something important will happen and trade it. We will see what we can get while we go to 27$ mark what s first serious bank level.
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Week over and its already heavy bulish 11 days of uptrend and still no signs of any down move. Buying in uptrend without decent pullback is alittle bit risky so for now I will wait oportunity to short this uptrend and make some money on downside. Because I am long term bulish any reversal signals after pullback ends will be taken for upside move. For now I am flat and just monitoring and waiting for high somthere to form.
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Some shorting opportunity on silver can develop
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Its not over jut still a buy for 40$ target now its consolidating expecting false break to downside before long