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