$SPY $GC_F $GLD $SI_F $SLV As promised, some thoughts on the silver trade. 1. The trend is bullish as all major moving averages point higher. >> The MAs themselves have only ever converged like this on 3 other occasions since 1974. And on 2 of those occasions prices began a multiyear uptrend. (Green arrows).<< 2. In Feb/Mar prices spiked down to retest a major channel support - one which saw an important breakout in 2008. 3. Previous impulse moves from the red channel floor (Like in March) have subsequently seen price reach channel tops. >>That would give an initial price forecast of 33-34<< 4. The most recent breakout was at 19.5 and that channel may be re-tested either this month or next and where we'll look to add to positions. 5. Future dips will be buyable at the monthly 9 and 20ma. Any questions, step into my office. 🎩 πŸͺβ„’
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