Possible retracement?

Discussion in 'Silver' started by Slimey, Feb 4, 2021.

  1. Slimey

    Slimey Well-Known Member

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    Can't help but think that we might have to face one more fast and brutal drop in precious metals. Two of the researchers I follow both indicate a possible drop in the GDX down to 24. This would be a 30-40% drop. It is quite possible considering that the U.S. dollar is on the verge of a reversal to move higher. This could be enough to trigger a mini collapse in the DJIA and precious metals.
    This would be an extreme call if it occurred. Improbable, yes......but I am watching closely. It could be the call of the year if it comes to fruition.
     
  2. hardyakkagold

    hardyakkagold Well-Known Member Silver Stacker

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    Possible but not probable.

    I think there is more chance of a breakout to the upside than to the down side.

    But, by all means keep a bit of dry powder handy to take full advantage of any substantial price drop should it occur.
     
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  3. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Ag and Au has not been rising along with the fall of usd recently, in fact they have been moving sideways while the play is on bitcoins and Teslas. Everyone is expecting a market pullback but I think it will not occur so soon. But if it really occurs I’ll be selling au to buy miners, GDXJ.
     

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