The Long Investor
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SILVER - SAFE HAVEN -
🕑 Added 2025-04-07 09:35:36 +0000 UTCSilver has done some recovering this morning after a strong pull back last week that I admit was a little surprise to see
I did a deep dive on this over the weekend to see if there was something I was missing and what I found was a little alarming
Banks and institutions were margin called last week due to the extreme drops and they needed to sell their safe havens to cover the margin, seeing this is a concern because some banks are clearly stressed and selling Gold or Silver would be a last resort option I believe....meaning they had no choice or a possible default would happen.
The impulse wave overall has not changed much but we are likely still in Wave 2 because we got a lower low but still held above the 0.5 Fib.
I am happy to see the price back at $30 again and this level needs to become a base level and a strong support line now, which it has been since April.
If this can happen then I believe the 50 and 200 Day MA's can be recaptured again
Comments
G4Golf
Long read but really interesting. Strange to think those shenanigans continue even after those convictions.
crypto baba
Is it a good time to add Silver at this price $29-30?
Yasser Etman
Does that suggest that stock market bottom is near or not yet? I mean t h e recovery of silver
Lyndon Richards
https://x.com/TheBubbleBubble/status/1902724319244865772?s=09
Lyndon Richards
I'll see if I can find it again.
Lyndon Richards
I read an article yesterday that silver is manipulated and kept low by the banks.
David O
Would you see any chance of a sell off in Silver like in second half of 2008 or early Covid scare?
