I have been adding to my silver
position for months and months along this most recent bottom. At this point, silver
seems like it has been beaten down to it's absolute bottom. It is currently sitting along the .764 fib level, which also happens to be the bottom of the donchian channels
. The RSI
is as oversold as it was at the beginning of the '08 bubble. Bullish divergence
on the MACD
also suggests momentum is changing.
As far as fundamentals, we have an increasing risk of hot war, an extreme bubble in bonds, stocks, and real estate, gold
look to be an amazing buy.
Please also see my S&P500
chart as a follow up to this idea.