SILVER - SAFE HAVEN -
Added 2024-08-19 14:11:57 +0000 UTCWhat I really like about commodities is how strictly they follow technical analysis
They do not have to issue quarterly or yearly earnings report and don't have to issue any guidance
They are simply an asset class with a store of value
People's interpretation of its value more importantly.....like $BTC.
And when people and not earnings are the defining factor, we can measure its movement a lot easier
This is why we added Silver at $24, why we continued to add on the pull back and why we like it as a our main safe haven to hedge against the market.
Price is just at its 50 Day MA now, flipping this level to support at $29.20 and it can move higher to take on the $30 test next.
Comments
Thanks so much !
jimmy
2024-08-25 14:18:55 +0000 UTCAlso, if you're not sure, you can just DCA (Dollar Cost Avg) so you won't miss out if you don't get that magical pullback I mentioned. As The Long Investor says, you shouldn't try to time the exact bottom, just get in at a good price. I'm a bit greedy so I play options so timing the bottom is far more valuable to me, but you're likely buying shares so it won't matter nearly as much to you.
Tyrhanosis
2024-08-25 09:57:41 +0000 UTCI keep track of Silver on a daily basis (5 days/week). We're nearing the end of the first wave in this Impulse Wave 3 (Primary Wave), so I would wait for a retest. Silver should hit ~$31 very soon (like within 5 days) and retrace somewhat below $30 (I would estimate ~$28) and then you can add there.
Tyrhanosis
2024-08-25 09:56:15 +0000 UTCHey Ty for the info ! Is silver a buy now to start a position or wait for a dip to enter ?
jimmy
2024-08-19 17:00:31 +0000 UTC
