Silver Mid Day Tuesday

In our last update we were looking for some type of pullback going into last Friday, but the market exploded higher to almost 50 on Monday Morning --- since then a pullback to the upper purple line as the Tuesday low has reached that area ------ where 43.00-44.50 is first support this week. Additional support is the 39-41 area where the upper dotted trend line and lower purple line meet. Ideal low for this week would be Wednesday --- in the 43-44 area. Be careful --- 5% moves in one day ---- or 8% like on Monday is tuff when trading leverage. If cycles play out and seasonals ---- we look for a low this week ---------and then a rally into the first week of May --- and then a two week pullback or consolidation during May.

1 comment:

Louis Cypher said...

Thanks Bill,
I'm just patiently waiting for the Fed gibberish to be over and done with tomorrow and then we can get back to the business of watching Silver and Gold continue their climb. But I'm a degenerate gambler so no one should follow my trades.