![]() Alternatively, I think that we will start to see commodities take off due to inflation more than anything else, but silver is a wild beast, so you need to be cautious with your position size more than anything else and you have to recognize when the market is moving against you rather quickly in order to get out.įor a look at all of today’s economic events, check out our economic calendar. However, silver also has a lot of other effects on the market that you pay attention to such as industrial demand as it is not only a precious metal, but an industrial one as well. After all, we have seen a lot of noise right around the 200-Day EMA, and we are still technically in the bottom half of the overall consolidation region. ![]() After all, the market is likely to continue to see a lot of volatility, therefore I think you have got a situation where you need to be cautious with your position sizing, and of course you will have to be nimble.Īll things being equal, this is a situation where I think there is quite a bit of support underneath that will continue to get into the marketplace. With that being said, the market is likely to continue to see a lot of volatility, but I like the idea of buying short-term dips, but I would not be one to hang on to silver for far too long. After all, the Federal Reserve is likely to continue staying rather tight, and that does put a little bit of pressure on precious metals overall. Looking at this chart, I do think that there is plenty of support underneath, but I also recognize that silver has a lot to deal with in the realm of interest rate problems.
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