Silver is back at multi month support levels.
CoT looks encouraging and much better then in gold. It probably improved further since tuesday.
It is that time of the year where the precious metals sector has in the past repeatedly found important lows.
The correction in Gold can still go further, so this might be a bit early.
Nevertheless, i expect silver to start leading gold again in the coming months, therefore it would be normal for silver to tread water here, while the overall correction finishes.
I already got half a position on friday, and look forward to add if price drops lower or confirms the low.
CoT looks encouraging and much better then in gold. It probably improved further since tuesday.
It is that time of the year where the precious metals sector has in the past repeatedly found important lows.
The correction in Gold can still go further, so this might be a bit early.
Nevertheless, i expect silver to start leading gold again in the coming months, therefore it would be normal for silver to tread water here, while the overall correction finishes.
I already got half a position on friday, and look forward to add if price drops lower or confirms the low.
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Good Start. Looks like silver (at 10day ema now) and miners leading gold out of the low. Today is Fed day, so one should not overvalue this price action, nevertheless this looks promising. First green heikin ashi in some time on daily.
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Comment:
Reaching Resistance, taking some profit, may readd lower if there is some sort of pullback
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Closed right at trendline.
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17,21 pullback starting? Sometimes i wonder if all one needs to trade are horizontal support and resistance lines.
