SLV Will Buy the Dip Mentality Move to PMs?A more bullish view may place us in a minor wave 4 of a larger wave 3 structure with a test of the highs and the potential wave 5 coming in a couple of weeks. Some suggest that in commodities, wave 5 can be the strongest move. My longer term view (other posts) suggests a confirmation of the Major Double Bottom. To complete this formation, SLV must break above 20. As Central Banks continue to lower interest rates to negative levels, the move to precious metals should continue. With the gold/silver ratio so out of whack as it has been, it's possible that silver will eventually test the highs.
SLV 2022 LEAPs are now listed. My patient money goes into LEAPs and physicals to take away my urge to trade my positions. Spreads are not friendly here resulting in stable long term positions.
