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Friday, March 29, 2024

Silver near extreme channel, reaction expected

Courtesy of Read the Ticker.

silver-near-extreme-channel-reaction-expectedSilver smashing against an extreme outer channel, looks like an mini head and shoulders, that will break higher rather than lower.

Previous post: This chart shows a extreme sell down, time to watch this security daily – Update

Option expiration week is over, extreme volatility of last week ends (we assume), now it is the time to see if metals will show signs of bullishness. Maybe forecasting a longer USD sideways move.

Latest chart.

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SILV current

Previous update chart

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SLV previous

NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net

Investing Quote…

…“My satisfaction always came from beating the market, solving the puzzle.  The money was the reward, but it was not the main reason I loved the market.  The stock market is the greatest, most complex puzzle ever invented – and it pays the biggest jackpot…it was never the money that drove me.  It was the game, solving the puzzle, beating the market that had confused and confounded the greatest minds in history.  For me, that passion, the juice, the exhilaration was in beating the game, a game that was a living dynamic riddle”..

Jesse Livermore

..”Markets are designed to allow individuals to look after their private needs and to pursue profit. It’s really a great invention and I wouldn’t under-estimate the value of that, but they’re not designed to take care of social needs”..

George Soros

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