FACTS: Silver rises with Nasdaq (semi-conductor) Nasdaq might attempt a rebound Silver is a safe haven (Still) Silver is more than 50?% off it's ATHs from the 70s... (how is that possible? cme)
This could be a GREAT time to look at silver (and AGQ ETF)
So finally the rumors of an increased rate hike was the time to go short (sell) and the actual results was the news to buy...
Usually we say 'Buy the Rumors- Sell the News' but this time it was the other way around.
⚠️🇺🇸🍿👀 Below i will inform you about the FEDS press conference, especially the best ones.
- Real GDP growth accelerated this quarter ✔️good news
- participants lowered their economic activity forecasts with an average real GDP growth forecast below 2% to 2,4 ✔️ok
- we will continue to significantly reduce the balance sheet and reiterate that a rate hike at the meetings is appropriate ✔️ok
- inflation surprised (lol) and we will change forecasts ✔️normal, expected
- raising by 75 is our flexible and responsive approach to data ( inflation ) ✔️ok, priced in?
- the economy is very strong and well positioned to implement tighter monetary policy ✔️Great to hear
Question: What is the prognosis? Everything depends on the data. ✔️told you employment data is Key
- we are quickly raising rates to a normal level, 50-75 are discussed in July ✔️ok
- a rate of 3%-3.5% is suitable for reducing inflation ✔️✔️✔️GREAT! CME prognosis was for 4-5%
- we want to see a serious decline in monthly inflation figures ✔️good luck, make friends with Putin
- the goal is to bring inflation down to 2% and to keep the labor market strong ✔️bla bla ..will take time you need to control energy prices
so..overall good things were said. Especially that rates will not be over 3,5%. great news really
SILVER TECHNICAL ANALYSIS: 24,28 is resistance. We expect that to break and then test the 28,4$ Price has 35% chances of flying to 39$
One Love, the FXPROFESSOR (DYOR, they say I'm crazy, don't listen to me.. I'm long on Silver since yesterday maybe i am biased 🙂)
It seems logical and the technical analysis is pretty good, but the current market sentiment and trading volumes warn me against such an idea, so I'll skip it.
AtlasTrades
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nice one ...I agree with this your support area on XAG/USD chart, thanks
Michael_Winner
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Interesting view, I'm probably agree with your Xag/Usd long
RLinda
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Good explanation. THanks for sharing)
Lingrid
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Interesting idea! What entry point do you recommend us?