SLV appears to be holding support at the .328 Fib retracement line. One theory says that after a .328 retracement, prices can be expected to rally to the .236 Fib line, @32. Another rally, similar to the last, could catapult prices to 38 or better. One long term spread I've been accumulating is the Jan 23 30-50 spread. Bought some more this morning for under $1. Should prices hold the illustrated channel o Jan 23, the minimum price would be 32. Under this scenario, the worst outcome would be a payout of 200 for a 100 bet. Long term for sure but seems that's what this precious metals game is all about, patience. Been buying more physicals here as well. Something has got to give soon. The Basil III regulations affecting how banks hold gold on their balance sheets is expected to generate large gains for gold.
One commenter mentioned that the recent smack down in gold and silver was a regulator-supported move for entities that had unallocated positions to accumulate positions at bargain basement prices. I agree. It wasn't that long ago I was buying silver eagles for $15 or less. Then one day, it's up to $30, never again to see those lower prices. Those who are patient and persistent will win in the end.
Also interesting to look at the stochastics. Starting to head up. Big cycle near at hand.
One commenter mentioned that the recent smack down in gold and silver was a regulator-supported move for entities that had unallocated positions to accumulate positions at bargain basement prices. I agree. It wasn't that long ago I was buying silver eagles for $15 or less. Then one day, it's up to $30, never again to see those lower prices. Those who are patient and persistent will win in the end.
Also interesting to look at the stochastics. Starting to head up. Big cycle near at hand.