You have to set your emotions aside and discipline in these markets. Silver -- breakouts and breakdowns that occur late in a cycle do not create sustained moves. Silver's late decline makes me assume this is a bear trap.
China's "stupid" zero covid policy is set to end this week in Shanghai where a series of state-supported measures will send adrenaline back through the economy.
This is very bullish news for Silver.
Trading in the silver market is fascinatingly complex. The chart and analysis below clarify the nuances that many seemingly don’t want you to understand.
Silver broke support late into its intermediate cycle declining phase. Any move back above the support -- now resistance -- will indicate that this was a failed breakdown attempt and we are heading back higher:
Most people are controlled by their emotions and buy high and sell low. We are in a bull market in silver & commodities, we are only couple of years into a five to eight years long bull...
All the metals, copper to silver, hurting the markets and dramatically. I am surprised that the silver price did not hold the supports near the 200dma, but I am certain the pros were covering shorts on Monday.
