Just a simple observation, the price of silver is hitting 15.00 major level, which was the ceiling for a secular 25-years sideways range. We might find some support here. Breaking 15 might extend the reversal to prices we never expected.
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This is a Gold/Silver analysis, performed by David Alcindor, which I came across on Trading view. He defined some over head resistance for this pair. Sometime when a ratio comes to a S/R level it is a good indication to check both charts, to see which one is giving more significant sign of reversal
Too late, the smart money was selling all the way from $50, now or soon the accumulation will start, for long term trends that is how the market works Sure it might go a few $ more down, but the the risk reward is not here.
Sentiments are at extremes now , everyone thinks the $USD will keep going higher and people who were pumping Gold and Silver at $1900 and $50 are all bearish now, you get bearish at $50 not at $15 , I am not talking for a trade, I am talking longer term, the $USD and the stock market will come to a very ugly end. I know you are a trader and your view is for a trade set up, but for safety longer term ill be out of anything $USD related , the country is bankrupt and there is no way out. The NOK which is the most sound among paper currency lost close to 25% of its value against the USD in the last 6 months, give it a year and youll see the 5,50 or lower again. Norway has a surplus and no debt, a country that is growing, interest rates officially at 1.5 and at banks you can earn 2.5%, real estate prices in a steady uptrend, although i live in the US , all my assets are in NOK, Norwegian real estate ,Jerusalem real estate and in Palladium. I trade in and out of anything, but for the future I know I am OK.
Hi Ludmila, I do believe the US markets have gone ballisitc as well, and Norway is a good place to put your money. As for the case of USD against the EUR, I still prefer the greenback above something that should have never existed in the first place ;). I live in Europe and since the introduction of the EUR, everything went downhill. Especially, since 2004 when they expanded way too fast...Now a triple recession coming up...How long can it continue to exist, I start to wonder...
Hi gunne821, I agree with you, too bad what they did to Europe and the EUR currency was a bad idea , it is a mess. But the US is my opinion is going downhill too, we have jokers as politicians, actually the whole world is a mess. I know on TV we are discussing technical analysis, but many posters here ignore the long term picture which is not pretty. Sorry if I offended anyone with my opinion, now back to trading !!.
That's why most of us are visiting this site, I guess...to get some trading ideas ;). And yes, I am getting bearish as well...a simple look at the S&P chart gives me the shivers, that angle it is rising since 2009 is frightening, and I think we got a warning a couple of weeks ago...I am off to bed now. Good luck.