Must admit that these regular-occurring slamdowns is even starting to affect me. I had previously been conditioned to "buy" but this has continued on for years now and I stepped back from buying more. Perhaps this can indicate that in general, the bulls are giving up. I suppose that is why I like to frequently buy the physical silver and gold. I look at that a bit differently than the ETF trades.
That being said, technically, SLV has only retraced back to the 50% Fibonacci level from its last major top. In David Halsey's Trading the Measured Move book, this is the level when the algorithms come in to buy. The target is the -.236 mark. If this plays out, the projected channel shows that this target should hit by mid-April.
That being said, technically, SLV has only retraced back to the 50% Fibonacci level from its last major top. In David Halsey's Trading the Measured Move book, this is the level when the algorithms come in to buy. The target is the -.236 mark. If this plays out, the projected channel shows that this target should hit by mid-April.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.