SILVER UNSURPRISINGLY SMASHED DOWN...AGAIN $SLV $GLD
Silver finally perked up last week which opened the door (yet again) for something that has not happened over the past couple years....it looked like we might have something here.
And then we come in this morning and silver does what silver does best, gets smashed down at the 200 weekly moving average. This is now over 10 consecutive times at this MA silver has failed which goes to show you even more how important this area is.
I wrote before about the coming move and the timeline is setup for somewhere late in the summer when the US indices put in an actual top and I am expecting precious metals to rip higher. And this will not be an ordinary move either.
This will be a VIOLENT move in the up direction if this line breaks.
16.35-16.50 is now the entry area.
Previous Post:
https://steemit.com/steemsilvergold/@heyimsnuffles/the-coming-rise-of-silver-and-gold-usdgld-usdslv
Easy come, easy go. Same story for 20 years of stacking!
lol, thanks for reading!
The 10 year treasury bond yield is a strong leading indicator on gold/silver pricing. The higher yield means more Dollars flow to bonds. More dollars in bonds means lower gold/silver prices. Converse is true as well. Lower yields will put money back into gold and bid up metals.
I agree at the beginning, however gold and silver actually rise in a higher yield environment. I am expecting yields to not breach 3% here SPX is waiting on this confirmation before heading back up (it will breach 3% laster this year IMO)
UPDATE: It just hit 3% lol, I still think it fails here. I do not think this is THE BIG Rates move..
Good eye on the 10 year yield. Pretty much everyone in fixed income trading is in a wait and see for what comes next.
see the seasonal charts I'll post again...we'll bootom gold (June) Silver late summer...both not far below current levels..the seasonals are acting "spot on" this year..
So when these trends break up and silver and gold take off higher....what is the target for the dollar low...the dollar is likely going to get killed here low 80s?
I say the dollar ultimately goes well below 80..hard to believe? and thanks...gold and silver go to levels unimaginable...
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