Hi all,
If you are reading my blog on daily basis then you would recall from yesterday that I was expecting today's market to be moving sideways. And that's what we saw today, with SLV closing just one 1 cent up. Key point is that despite some volatility, it closed right on 25 percentile mark. This is a precarious position. It can go up or down tomorrow with violent moves.
We saw physical silver buying from retail investors go up by almost 150% in May but "smart money" is not fully in yet. So perhaps, there is a dip of 30-40 cents that is expected in the short term. The MACD graphs though have deteriorated a bit today, money is not getting pulled out, which is a bullish sign. See charts below.
![silver long term.jpg]
Given below is the long term chart with curves highlighted for long term (red), medium term (green) and short term (blue). Please note the sharp angle the blue lines make which is the projected trajectory of silver, if it goes up. If it doesn't then a equally fast move down can be expected.
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We saw Bitcoin go up to $4,000 in South Korea, whereas in USA it went up to $2,700 before settling down to around $2,500. If you invest in Bitcoin, then you must understand that the prices are not global like silver and gold but instead are determined by local exchanges.
Geopolitical situation is heating up so it is a matter of time when silver and gold can no longer be manipulated.
Disclaimer: I am not a financial advisor and nor am I qualified to do so. So please do your own due diligence.