Ladies and gentlemen, Today my bear-radar is on FOREX.
Supply estimation :
About 1.5 million tons of silver have been mined from the earth over the course of human history.
Is Silver a store value in case of economic crash ?
During 10 years, Silver was in a massive bullrun. The 5th wave, in EW theory, shows an over-extension of the 3rd. The over-extension is 2.618 which signals, on a monthly timeframe, a Bubble-market. Crash are generally worst in term of price and time than the precedent bubble : the last 10 years have shown the power of the bears in this volatil market. For now, Silver looks way more bearish than gold.
Technical analysis :
The price is currently consolidating at the D point of the EW's descending triangle. Volatility is normally compressed and the pattern is ready to play out. That type of triangle breakdown approximately 70% of the time. It's generally a very simple trade if you wait the confirmation of the break. On this trade we are anticipating this breakdown and shorting the current resistance. - RSI shows hidden bearish divergence and monthly bear-market area. - ABC needs to be completed by 1:1 extension on logscale.
Type of market : Irrational (Crash). Type of trade : Continuation (speculation+).
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Have a lovely day !
DISCLAIMER : I'm not a financial advisor. I can't be responsible of your losses. You trade at YOUR OWN risk.
Commentaire
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Trade obviously still active.
Commentaire
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And one more working scenario Chirurgical. Please follow me to receive updates and new charts !
I like this A LOT!
I remember those calls for 1000$ right at the peak, with Robert Kiyosaki among them. Nobody accepted back then this will go down on the floor.
@ComeTcrypto, It is a technical target to grab safely your profits.
Long term view, the average price before 2001 will be reestablished.
KassandrA_dotcom
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@AristotelCostel, You get it man ! I'm happy we are on the same vision. Always secure your profits ! It's not mean i will close all my position at 10 or 8 :).
KassandrA_dotcom
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@ComeTcrypto, And it's already +50% gains from 18$ :).
Yorben
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could the impact of the coronavirus and recent stockcrash chance this ?
KassandrA_dotcom
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@Yorben, The 8-10$ is still the most likely target for medium term. Could be worst. But not better.