Silver Consolidation 8/5/2020
Silver is finally catching up to gold. It seems that the monthly pullback was on July 30-31... near the 1st of every month.
The issue is that silver is how at a key resistance level. Why didn't I enter into silver yet? It's because of the dollar strength. If the DXY has a confirmed double bottom pattern, we might see a bounce in the dollar... and a possible pullback for silver.
I'm very, very bullish with silver. I want to enter into it soon especially since the dollar is tanking too. Even if silver has a pullback, it's still in a consolidation phase. If it pulls back, it won't be long before silver reaches above $30. Even if you enter into silver now, in 3-6 months, you'll still end up with profits unless the Federal Reserve suddenly stops existing.
The issue is that silver is how at a key resistance level. Why didn't I enter into silver yet? It's because of the dollar strength. If the DXY has a confirmed double bottom pattern, we might see a bounce in the dollar... and a possible pullback for silver.
I'm very, very bullish with silver. I want to enter into it soon especially since the dollar is tanking too. Even if silver has a pullback, it's still in a consolidation phase. If it pulls back, it won't be long before silver reaches above $30. Even if you enter into silver now, in 3-6 months, you'll still end up with profits unless the Federal Reserve suddenly stops existing.