Silver Price Analysis
Silver markets had a pretty good Friday vs. the rest of the market. It rallied during the trading session reaching towards a major downtrend line that has been important line in the past. That the downtrend line has been intact since late spring, and so far has been rather crucial and is likely to hold as we see continued downward pressure on markets. Another notable technical indicator is the 50-Day EMA sits right there with the downtrend line. Combined it is a major resistance point that’s going to be difficult to break above. In other words, it’s going to take a lot of effort to get through all of that, perhaps some type of major fundamental change in the overall economic or geopolitical situation to changes courses.
Silver Chart
Portfolio Update
My current assets are valued at $1546.87 with a total acquisition cost of $1716.17.
Asset Allocation Chart
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Metals aren’t going anywhere but down for a little bit, atleast through the rest of the year.
I agree all assets prices are going to stuggle.
Thanks for keeping us updated and informed, @cryptictruth. At the moment, I look at it as a buying opportunity.
I'd wait for another drop there is a lot of headwinds for all assets.