The selloff in gold and silver today was extreme . I cant help but be bullish at support when current sentiment is almost exclusively bearish . Use this opportunity to load up on physical especially as these opportunities are few and far between .
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USDJPY continues into nosebleed territory . I look for the breakdown of this as the ultimate signal to go long gold and silver . I maintain the same view ive had for the entire move, that it is corrective in nature and will ultimately fail .
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Juniors held up great last week regardless of the "this is the end" calls lol... best time for shopping junior miners ever
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Does gold lead the note or does the note lead gold ? You be the judge .
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miners are dirt cheap here... but wait a bit more, 1-2 weeks for this to bottom
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2yr / 30yr vs gold ... hmmm
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21.27 - 22 is a massive demand zone for silver going way back
The one sided negative sentiment coupled with a panic into this level has set up a nice buying opportunity .
The one sided negative sentiment coupled with a panic into this level has set up a nice buying opportunity .
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Cant deny it the bloodbath was worse than expected ... but if there is anything that diamond hands physical stackers know it's to buy when there is blood in the streets... and keep in mind the macro view . I truly believe we will look back on this time as an amazing deal .
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Based on the recent price action i can still see this going down to around the 20.80 level before we get some decent buying action .
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20.80 is a major support area for silver
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comex futures closed above the long term 50% ret ... dont look so bloody on yearly bars does it ? This is a deal for buying physical silver !
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a mere flesh wound
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Are silver and gold finished ? Not by a long shot . Did you really expect them to let these break out to multi year highs without a struggle ? Beaten down yes , but not out of the game . The volatility has skyrocketed and we can expect massive swings going forward . I think they both need to go down a bit more to retest their W1 highs and then i expect some sort of retest of the all time highs and a complex corrective wave that will drag on for some time . Silver:
and gold: