chartwatchers
Long

SILVER COT is bearish-broke down on Friday but it'll rally soon

FX:XAGUSD   Silver/U.S. Dollar
180 2 8
That's why I was nervous regarding GOLD's COT...
Silver's blees rating was at 0 last week Tuesday...
These happenings are important for gold             also. Silver             is late in its daily cycle and moving down into its DCL :

A. It might be producing a Bollinger band crash signal at 14.3 testing back the breakout and then turning up and making a higher high
B. or already printed its DCL on Friday tagging the 50 and 100 EMA and starts to move higher....

I think the rising dollar helped a lot in this move...

Short term: next week, especially the beginning of next week price might fall more but I wouldn't recommend it to short. I dont think silver             would come below 13.50...
Medium term : Long
Long term : Long

I posted silver             because it's important for gold             also .
Personally I'm not trading silver             now.
I agree with your synopsis, but see 13.13 as a medium/short term stopping point. Although a move to 13.50 would produce significant gains. Good trading!
Reply
DownUnder
9 months ago
Looking good, have to watch carefully now for next break and pivots :)
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