Some profited, some burnt, in Silver's >10% surge earlier this week, and then a sudden flash crash of sorts.
what is worse, is that it is telling us that there is a lot of sell presuure higher up, and now it would probably look for the downside support of about 22.50
If SIL can hold above 44.5 the next few days, we could see a breakout to 66, 67 over the next few weeks. If not, it could drop as low as 40 before a bounce. That would not be surprising either as we're in a time of extra volatility likely for the next month. If it drops much below 40 I would get the hell out of all stocks.
see full chart & Follow at www.tradingview.com
A while back, you may see me call the top on Gold because it was up 25% in the last 12 months. while market was only 7%.
Some things have changed since then, Gold came back down a bit, The FED (FOMC & Powell) have declared they would let inflation run wild.
Interesting pattern on Gold, as market...
the metal is still within a complex correction.
the wave Y of (X) could have started to retest the former top around 30
then another drop will follow to complete the entire correction around 23.39
after that we will resume to the upside
As usual, demand for Gold mining stocks has risen with the ore rally. Mining stock such as KGC has outperformed major gold/silver mining ETFs and completely obliterated gold/silver ETFS since March.
It is a higher risk and higher reward play for investors who want to ride the gold/silver trend.
EV/EBITDA TTM, Price/cash flow TTM and many other valuation...
The target previously posted hit target spot on time !
So what’s next?
I would hazard a projection that despite the parabolic run, it still might have some legs to go, but am expecting the next target area (green ellipse with red outline) to be volatile. Not expecting a close above 30.30 though... it is just over stretched.
IF silver still continues, the;we are...
Recently, there was a lot of hype on precious metals, and Silver outshone Gold (finally!), particularly over the last week or two.
This who are in positioned find themselves wondering when this parabola will end. And I’ve been asked one too many times for a projected expectation. While I do not have a crystal ball (at all), price target is calculated to be at ...
The earlier idea could be completed as structure gets more complex with possible double three WXY to emerge.
The drop into blue box should occur then to make a wave X retracement.
Then the metal could hit 22.50 when another zigzag up in wave Y unfolds.