Chaos Clinic for 9/6/2019
My July 26, 2019 Chaos Clinic pointed out that silver looked like it was set to begin a major cyclic move up. Since then silver has jumped nearly 20%. This is shown on this daily chart of the SLV EFT.
Prices have moved so far so fast that traders who did not buy immediately need to wait for a pullback. Those who did buy immediately are in a good position, and can affored to wait for a pullback to add to their positions. Assuming that the high this week is a move 3, a pullback similar to move 2 could see prices pull back into December, near 16.5 .
Shown on the chart is a rainbow of EXMAs, set to 9, 18, 36, 72, and 144 days.This rainbow shows a strong divergence fan, suggesting a long, strong up move. . My initial analysis used a multiyear chart that suggests silver could advance for several years. Patience, and a stragegy of buying the dips is recommended.
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Information on this page contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions.