Posted by goldnice on 29th of May 2020 at 09:45 pm
SLV {Weekly Close}. Silver ETF. The Silver bull market started
in March 2020. The move in silver the last few weeks has been
bullish and impulsive. It's GAME ON!
Posted by steve101 on 30th of May 2020 at 07:38 am
Goldnice, I do not agree. On a 240 minute chart I see a large
bearish divergence. Retail sentiment got up to 91% bulls an area
where reversals occur. The move up from the march lows is very
likely an ABC zigzag pattern where the C wave was .618times the A
wave in a terminal thrust out of triangle in an ending diagonal for
wave 1. I think looking at short funds is more appropriate. The
market will tell us shortly its wishes. My view is that over the
next couple months Silver corrects down below 14.00.
I do believe that the bullishness for Gold and Silver are
reaching high levels and the market is always smarter than all of
us. My feeling is we see a short term top this week.
Corrections are health but Gold and Silver correct pretty
hard when they do. But Price rules.
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SLV {Weekly Close}. Silver ETF.
Posted by goldnice on 29th of May 2020 at 09:45 pm
SLV {Weekly Close}. Silver ETF. The Silver bull market started in March 2020. The move in silver the last few weeks has been bullish and impulsive. It's GAME ON!
Goldnice, I do not agree.
Posted by steve101 on 30th of May 2020 at 07:38 am
Goldnice, I do not agree. On a 240 minute chart I see a large bearish divergence. Retail sentiment got up to 91% bulls an area where reversals occur. The move up from the march lows is very likely an ABC zigzag pattern where the C wave was .618times the A wave in a terminal thrust out of triangle in an ending diagonal for wave 1. I think looking at short funds is more appropriate. The market will tell us shortly its wishes. My view is that over the next couple months Silver corrects down below 14.00.
I do believe that the
Posted by ssaffer on 30th of May 2020 at 12:35 pm
I do believe that the bullishness for Gold and Silver are reaching high levels and the market is always smarter than all of us. My feeling is we see a short term top this week. Corrections are health but Gold and Silver correct pretty hard when they do. But Price rules.