Long Term Outlook on Silver - Monthly
Updated
In the Macro perspective Silver doesn't look too good right now. There are more bearish signs than bullish. All of them are listed on the chart, but the biggest red flag would have to be the Monthly death cross (50 MA crossing - 200 MA) and resistance forming on the 200 Exponential Moving average.
I'm not going short or long at the moment just waiting for a good time to buy at one of the Green support levels. I believe silver will be increasingly more valuable in the future, especially its use cases in electronics, jewelry and photography. https://geology.com/articles/uses-of-silver/
I'm not going short or long at the moment just waiting for a good time to buy at one of the Green support levels. I believe silver will be increasingly more valuable in the future, especially its use cases in electronics, jewelry and photography. https://geology.com/articles/uses-of-silver/
Note
Weekly chart shows bullish divergence, we might see a pop in price and increase volume soon. Heavy resistance at the psychological $14.00 area
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