Silver Intraday Potential Bear Trap Review




The bearish phase that we see in silver looks like another correction that may have a bit left to go, with a little counter rally 4th and 5th wave to play out.  Overall, I’m very bullish, as I believe that this commodity bull run has still lots more upside that it will show us.

Any more downside can be a fast, flash crash like move, and just as  your sell stops get hit, silver will turn and soar north again.  Yes, silver is lagging behind gold, but in the end days of any move, the asset class can make a vertical spike, that may impress us to no end. 

We also have a H&S base which can give us support if the decline has already finished. Any “C” wave bull market can start off very choppy making it very difficult because a bearish rally and the start of a diagonal wave structure, can look very much the same.  This is where we have to let time do its thing, to see if this short term rally, is a fake move

If the bigger picture is that investors are going to run to gold and silver as a safe place to go to get away from the carnage of the stock market, then eventually we have to come to terms that fearful investors can run back to the stock market at any time as well.  The US dollar also has to give the gold and silver bull market support, and I’m sure it will as the US dollar is running up against resistance all the time. 



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