Silver has risen sharply from $21.89 (30th November 2020) to $27.92 (6th January 2021) and has corrected to find support at the 61.80% Fibonacci support from where it is rebounding. It would be prudent to say that silver could rise towards $25.90 and $26.25 if it sustains above $23.85.
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Silver is currently at $24.75, it is an incredible price to go in and buy for the medium-long term.
Its current fall is due to the appreciation of the dollar, which this week has appreciated considerably, causing both gold and silver to fall. This doesn't mean that we should be alarmed and think that this will continue, the EURUSD is currently in decline, however...
This could be an important moment in silver. I prefer that the metal stay cheap but I fear we are about to run out of time before this train leaves the station.
What do you think will happen to SILVER over the next year or two?
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On the day rather than the four hour this channel holds up well.
Do I need to explain it? It's staying within a channel, if it falls out, high probability it will continue to fall. If it breaks out, target @36 maybe?
I'm still excited for silver and not worried about...
Silver is gaining momentum in bullish territory on the monthly chart.
All MA's are now acting in support which is really good. VWAP is also under which give great push on the upside.
Here are some projection for next Grand Cycle Wave 3
Based on last intermediate wave 2, the intermediate wave 3 can reach :
161.8% - 86.688$
261.8% - 133.092$ (my favorite...
DEC to FEB is a strong period for metals if we look at history.
That pullback in precious metal was very healthy.
Silva does not need to test the 50% because that impulse if not over and the sentiment is still strong.
Looking to see if silver holds or breaks down at the $24.80 price level. IMO, it is starting to seem that silver and gold are too old school for new investors and the serious trading is moving to bitcoin. Bitcoin up something like 50% in a week while gold and silver are making large pull backs.