I believe the sell-off catalyst was uncertainties with China and rare earths, and sentiment typical of early October.
Silver has completed corrective Wave A (down). We’re now into Wave B (up). And we’ll then see Wave C (down) to a lower low, roughly equivalent to the length of Wave A (the sell-off from the high to the recent low).
I concur with your inferred bullish sentiment. Silver has multiple strong fundamentals underpinning its continued appreciation higher: Russia plans to acquire for reserves, five years of supply deficits, unmitigated Fed fiscal deficits, promise of expanding energy and industrial applications (AI servers and semiconductors).
Silver is undergoing normal and necessary correction. My posts of Oct 10th, 17th, and 22nd featured charts showing stark Price-Indicator disagreement of the kind that appears in Wave 5 on medium-to-long term tops. Money-flow was INTO Silver into the Price high. Even net-flow was INTO Silver as of today.
Market consensus among traders and short-term investor alike was to take profits.
Ask him to POST and explain why and for how long -> Yes please =)
I believe the sell-off catalyst was uncertainties with China and rare earths, and sentiment typical of early October.
Silver has completed corrective Wave A (down). We’re now into Wave B (up). And we’ll then see Wave C (down) to a lower low, roughly equivalent to the length of Wave A (the sell-off from the high to the recent low).
- Charlie Whooph
Thanks for that perspective!
👍
I concur with your inferred bullish sentiment. Silver has multiple strong fundamentals underpinning its continued appreciation higher: Russia plans to acquire for reserves, five years of supply deficits, unmitigated Fed fiscal deficits, promise of expanding energy and industrial applications (AI servers and semiconductors).
Silver is undergoing normal and necessary correction. My posts of Oct 10th, 17th, and 22nd featured charts showing stark Price-Indicator disagreement of the kind that appears in Wave 5 on medium-to-long term tops. Money-flow was INTO Silver into the Price high. Even net-flow was INTO Silver as of today.
Market consensus among traders and short-term investor alike was to take profits.
10th: https://www.whooph.com/p/whats-silver-doing-now?r=6b0yjf
17th: https://www.whooph.com/p/whooph-trades-exits-boil-natgas-long?r=6b0yjf
22nd: https://www.whooph.com/p/whooph-trades-short-silver?r=6b0yjf
Thanks for sharing, certainly did not know the russia angle, this is very helpful!