We have solid position on silver .
* StochRSI DAILY BOTTOMED
* My view is that silver will after this strong pierce and selloff make attempt towards previous highs, drop again and continue to push since underpriced.
* Target on silver is 48$/OZ.
Having on mind position of S&P 500 , DAX . FTSE and the other indexes, situation on stock market seems very shaky.
SPX is in front of WEEKLY CROSSOVER which will result collision of index as we could see in the chart
Apart from SPX , DAX seems even more shaky and i would suggest clearing stock positions and opening longs on metals (prefferably silver ), since HH of gold should not surpass 57.000$ which is 10% at best comparing with silver which provides 218% return on investment (118% profit).
Money from stocks will move to precious metals and crypto section.
Appliance of silver from fundamental side is used in industry since all the batteries, fast chargers and so on could not behave as good conductior as silver , because it doesn't have "skin" effect like copper and it can endure big amperage which will be used in electrical car chargers (since gold is to expecive now).
Silver will be too, but still not
Usual ratio Au:Ag=20:1
Now is 70:1 in favor of gold (since gold made brakeout first
Once again, i find silver highly underpriced and will collision of stock exchange (WHICH IS IMMINENT) and certain as Tuesday after Monday, money will move into " store of value"
Good luck to everyone and happy silver holding.
Will pay off big time !!!
Thanks for sharing your thoughts buddy.
You are welcome Kevin