Following the recent pump on silver up to around 30, many have been scratching their heads about the dump down to around 26. There is word on the block that Silver is heading to 500 but the so-called gurus are not saying within what time frame that might happen.
The chart time frame shown is a macro-economic one - the weekly. Always look higher.
I highlight some similarities looking back to 2007-2008.
My probabilistic estimate (not a prediction) is that on this time frame it is more likely than not that Silver goes south. (for every probability estimate in one direction there is a residual probability in the opposite). I've given my reasoning based on macro-economic cycles in the video. The whole world is overdue a downturn in a macro-economic cycle - a pattern which has been very robust for decades. This time around it would be interesting if we do avoid that downturn. If so, Silver is likely to punch north.
Those who have other ideas for Silver going far north, are invited to give their commentary with reasons. Let's learn from each other.
Disclaimers: This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
The chart time frame shown is a macro-economic one - the weekly. Always look higher.
I highlight some similarities looking back to 2007-2008.
My probabilistic estimate (not a prediction) is that on this time frame it is more likely than not that Silver goes south. (for every probability estimate in one direction there is a residual probability in the opposite). I've given my reasoning based on macro-economic cycles in the video. The whole world is overdue a downturn in a macro-economic cycle - a pattern which has been very robust for decades. This time around it would be interesting if we do avoid that downturn. If so, Silver is likely to punch north.
Those who have other ideas for Silver going far north, are invited to give their commentary with reasons. Let's learn from each other.
Disclaimers: This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
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