you are viewing a single comment's thread.
Ugly! I'll leave commentary about why safe haven's like gold (or silver) are taking a beating during a time like this. I posted a few days ago I saw a low at $38.05. Over the last nine hours the only positive candle was the one that opened at $38.03 and closed at $38.07. So that forms my guide post.With that in mind, things have become very bearish for the metals with silver breaching that price target. My model says silver should bounce upward from $37.26 and it may get as high as $38.25. If it gets to that high sell it all, then step back and wait.The so far low of the morning is $36.87 and silver does hove downside risk to $36.60 but selling anywhere near these prices would be selling at a bottom in my opinion.The implications of this recent fall puts $30.32 to $28.31 squarely in the cross hairs. Preserve capital to fight another day. Good tradingchemaes