SILVER - SAFE HAVEN -
Added 2024-08-01 12:23:22 +0000 UTCA clear bounce on the 0.5 Fib at $27.23 last Thursday, which is when we bought last, this was added to the TLI BUY and SELL chat group.
Gold also hit a new ATH yesterday when Powell spoke about the likelihood of a Rate Cut at their next meeting, due in early Sept.
Traditionally when the Fed rate cuts, Gold and Silver move higher and they have both been moving higher since the start of this year, as the market has been preparing for the Fed to pivot.
On the chart, the 50 Day MA is at the blue support/resistance line at $30, this is the level I want to see the price drift up to and ultimately flipping this level to support, holding above here and we can confirm that the pull back is complete.
So next test will be at $30.
