SILVER - SAFE HAVEN -
Added 2024-06-04 14:44:29 +0000 UTC$30 was lost this morning and the price action is now moving to test support on the Fib levels
All charts behave the same way, regardless of what they are and Silver is no different.
$30 is the historical resistance level, so converting this to a firm support will be vital to move higher but there is no reason why the price action can not test standard Fib levels before regaining the $30 again
So because the price has fallen below $30 and the structure is still in place, Silver is back on my buy list again when support is found.
The price is at the 0.5 Fib but we can see that the 50 Day MA is at the 0.618 Fib now $28.50
Lets wait for a for a hold but I will happily add to my position
