I wonder what is the correlation of those charts. It’d seem rather high on the positive side.
Tag Archives: silver
Is correction in silver price over?
I’m not a fortune-teller and I do not have a crystal ball so I can’t be sure, but I suspect it may still go lower. However, in my opinion if it does there are 3 more support levels on the chart.
If silver would ever get that low it would probably be the last time for the foreseeable future.
Green lines on the chart indicate buy signals and so far they are almost 100% accurate. You can look even further into the past and nearly every time when RSI broke through 30 from below and Slow Stochastic broke through 20 from below, the silver price rallied quite strongly. I’d suspect this might happen again and after that we would get some consolidation period.
Than again, you never know how much more currency governments are going to create so in short-term every thing might happen :)
Disclaimer: I own gold, silver and mining stocks so I greatly benefit if there is more demand for precious metals.