Looking into weekly SLV chart, SLV bounced back multiple times from the support around $20. This support line played role since 2008.
With uncertainty growing towords the market, i expect GLD and SLV will go higher as soon as Mr. Powell starts rates hikes and lowering tapering program.
The question, will we see a huge leg down like the one in 2020 ? or should we go LEAPS from here ?
Let me know your thoughts in the comments. Thanks, Sam.
there is a huge Gap between 18 and 20 if you look at the TPO chart. I think the USD will rise in anticipation of upcoming FED meeting causing precious metals to dump next week.