$38 Silver....
- Thread starter ozcopper
- Start date
Surely we're due for a pullback soon. I'm waiting for a massive red candle to wipe out the previous gains. If that were to happen, it could create a lot of unwanted pressure in the physical markets.
I've noticed ABC Bullion have removed Silver Kangaroo's from their shop. Could be the beginning of a new phase of shortages at the mints and dealers. We'll have to wait and see, I guess.
I've noticed ABC Bullion have removed Silver Kangaroo's from their shop. Could be the beginning of a new phase of shortages at the mints and dealers. We'll have to wait and see, I guess.
ozcopper said:
It's funny how it can work out though. Often the market will correct after the RSI goes above 70. But in a strong bull market, it can stay above 70 whilst the market surges, and when there is a correction, it's very minor and the price usually just moves sideways for a period before climbing again.
It's so common for silver to have volatile swings and sharp corrections, so it's fair to expect a similar outcome... But eventually that won't be the case. I certainly wouldn't be shorting silver right now.
The weekly Ichimoku chart is just showing the start of a breakout including a nice uptick correction on the monthly chart! On the daily, I feel we have a little more upside yet before any short-term correction, USD30 is possible from here. Possibly EV market has been caught short of Silver inventory which is driving this upside.
