Silver had the biggest among metals this week, 4.15%. Still in wave 3, approaching key resistance and a broken uptrend line, also a fib extension level of wave 1 and 2. A break of the resistance would open the next section, so good for a long.
Would be good to have a pullback from resistance first before the break for more confirmation and potentially earlier entries with better risk-reward. The trend should be in line with economic cycles.
If fears of recession come to true, then Silver could follow metals as investors in panic pull money from equities to safe-havens. Good Luck!
Would be good to have a pullback from resistance first before the break for more confirmation and potentially earlier entries with better risk-reward. The trend should be in line with economic cycles.
If fears of recession come to true, then Silver could follow metals as investors in panic pull money from equities to safe-havens. Good Luck!