SILVER - SAFE HAVEN -
Added 2024-07-19 11:45:39 +0000 UTCSILVER did not hold its $30 level retest that we have been waiting for and has lost its 50 Day MA too at $30, so I have added in the corrective pattern I believe will play out now.
I would be surprised if a lower low below the 0.38 Fib does not come in next, so I expect a move down to at least the 0.5 Fib and we can see that the 200 Day MA is at the 0.618 Fib now too at $26, if we get the chance to add at this level leading into Sept, where I still expect the Fed to Rate Cut, then we take full advantage of adding to this Safe Haven.
Right now it is not a buy for me since $30 was lost and I am also not selling any of my position right now either, I prefer just to add when support is found.
