SILVER LONG short-term bounce. Monthly isn't looking too good.
On a short term technical basis, if April closes here silver prices could be poised for a fall under $16.00.
However, long term charts indicate that buying in this region and holding for 5-10 years will create a nice return.
It seems there is a strong pattern of accumulation here. Any large sellers of silver at these prices are margin traders and perhaps very old long positions from 2008 and prior. You will have your buyers scalping as well, but most silver buyers are accumulating for a move back above $25.
The white and beige zones are stop loss and take profit levels. There is a second entry waiting as well.
However, long term charts indicate that buying in this region and holding for 5-10 years will create a nice return.
It seems there is a strong pattern of accumulation here. Any large sellers of silver at these prices are margin traders and perhaps very old long positions from 2008 and prior. You will have your buyers scalping as well, but most silver buyers are accumulating for a move back above $25.
The white and beige zones are stop loss and take profit levels. There is a second entry waiting as well.
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