Silver: From -47% to Bullish Momentum: Silver’s Chaotic Week

Feb 6

Silver: From -47% to Bullish Momentum: Silver’s Chaotic Week

In the first sell-off that silver experienced, the price fell by almost -40%.

After a correction these days, we saw silver move lower overnight creating another structural low.

Just yesterday, silver fell by almost -21%, adding to the biggest drop a correction value of almost -47% in just one week.

Why all this mess, when nothing has changed from a geopolitical perspective.
(Just manipulation by those who created the big bullish wave - My opinion and I don't expect everyone to agree with it)

On the 4-hour chart, the price created a possible false breakout and today silver is resuming the bullish move again as shown in the chart.

However, the bullish move is related to the US-Iran talks. If they don't reach an agreement, silver could probably skyrocket again.

If the US and Iran reach an agreement over the weekend, we could see the markets calm down and perhaps silver could also fall further.

However, this is related to the news in this analysis, but remains bullish and highly manipulated. A bullish wave can happen in the same way as a bearish wave too without any clear idea why. In the same way as it moved down.

You may find more details in the chart.
Thank you and good luck! 🍀

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Feb 8

Trade active

🎯From the analysis I posted on silver 2 days ago, the price increased by almost +5.5% from 74 to 78.1

Currently, the market is still uncertain about future developments in the geopolitical arena. It is very likely that silver will continue to rise more from this area.

Under normal conditions, we should see a slow recovery. If news comes out, we could see silver rise quickly.

The ongoing talks between the US and Iran should be the focus of the market.

Feb 10

Note

🎯Target_1 Reached

🎯Silver analysis was released when the price was at 74.00 and we can see that it has already reached 83.80, an increase of almost +13.25% 🔼 and has almost reached the second target.

The market is still waiting for more details on whether a deal will be reached between the US and Iran. There is a high chance that silver will continue to rise further, but again the risk remains high from some strange selling.

This pause looks more like an accumulation before moving higher, but let's see how silver will develop this time.