finally reached 10 year trendline
more important than the trendline to me is psychology and momentum
trendlines are beginner/retail shit. they work but not in the way most people think
probably will break through it, down to undevalued and be scooped up. $18-$19 is a little under fair value (mining production cost) but $15 is just dirt cheap.
but here's the rub. markets take a LONG TIME to accumulate, distribute. but once they do, the breakout happens.
the only people who are selling silver right now are longs from sub $18. do you really think anyone is providing liquidity to the downside as a spec SHORT? no way.
they are selling to new spec longs and realizing a nice USD profit. of coures, they have been selling all the way down from $50, but the best liquidity exists between $19 and $15.
said it many times. i have limit orders at $17.50ish and $15.50ish
good luck
more important than the trendline to me is psychology and momentum
trendlines are beginner/retail shit. they work but not in the way most people think
probably will break through it, down to undevalued and be scooped up. $18-$19 is a little under fair value (mining production cost) but $15 is just dirt cheap.
but here's the rub. markets take a LONG TIME to accumulate, distribute. but once they do, the breakout happens.
the only people who are selling silver right now are longs from sub $18. do you really think anyone is providing liquidity to the downside as a spec SHORT? no way.
they are selling to new spec longs and realizing a nice USD profit. of coures, they have been selling all the way down from $50, but the best liquidity exists between $19 and $15.
said it many times. i have limit orders at $17.50ish and $15.50ish
good luck