I am a Silver Bull and a Chartist. Unfortunately the POS has broke the key support at 21, it is possible to trade around the weak support at 20, but I am now expecting 18 worst case, major support there.
Why. The FED!!
They are now trying to talk the inflation number down. They were late in raising rates, now inflation has got away from them and will continue to do so. Mainly due to sanctions against Russia and the cold war with Russia and China. So inflation is here to stay. The Fed will keep trying to talk the inflation down and will continue for a bit longer in raising rates until they see something break. I was hoping for 22Mar23 (next meeting), but I now think more likely May-ish. They will then pause, not pivot (until next year maybe), this will then cause a correction in the USD, then gold and silver will run.
Also note the US jobs number is out friday night, this will also be telling. 50:50 at the moment.
So in summary POS is stuffed for the next couple of months! AIMO of course, but I do do a lot of research into this as I am heavy invested in 3 Aussie silver stocks.
GLTAH. SVL will shine
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