Cryptos and the share market are looking as a better bet if you are looking for an investment that will return you some dividends and make your money grow.
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Seasonality is about to become a significant headwind.
Silver is a few weeks away from entering the worst month of the year for seasonality.
Silver futures cycled from a 4-month high to a 6-week low in less than ten trading sessions. After similar price reversals, the commodity tends to exhibit further downside momentum over the next few months. Gold could follow silver lower, albeit the outlook is not as adverse. With seasonality for precious metals turning unfavourable in June, the weight of the evidence does not bode well for silver or gold.
Cryptos and the share market are looking as a better bet if you are looking for an investment that will return you some dividends and make your money grow.
Seasonality is about to become a significant headwind.
Silver is a few weeks away from entering the worst month of the year for seasonality.
Silver futures cycled from a 4-month high to a 6-week low in less than ten trading sessions. After similar price reversals, the commodity tends to exhibit further downside momentum over the next few months. Gold could follow silver lower, albeit the outlook is not as adverse. With seasonality for precious metals turning unfavourable in June, the weight of the evidence does not bode well for silver or gold.
Cryptos and the share market are looking as a better bet if you are looking for an investment that will return you some dividends and make your money grow.
I thought it was illegal to talk in the negative about the metal's potential?
The buy and hold opportunity for the long term was either 2 years ago or is yet to come.
If it's for the short term it was Sept-Nov last year or March of this year and the buyer should have closed their trade by now. The POS is back in the descending channel and falling toward the next S/R zone mid-$21 to mid-$22. We need to see it consolidate above 23.50 for an extended period of time. The further it falls the longer we will have to wait for a break out.
Neither are looking better bets than the USD or gold. The "share market" is too broad to say that it is a good bet. There are going to be stocks to steer clear (eg small caps) of and stocks that will weather an impending recession better (eg defensive) though they mightn't make you guaranteed money. And crypto's fate during a recession is a great unknown. Will it act in the same way as gold has done in past recessions or will it be hammered as the market deleverages?
Yep, short term trading using an ETF is the easiest. I'll also use an ETF for long term holding as well as it's far more convenient for me in my position.
I'm the opposite, I prefer to see it trending higher.
View attachment 79676
These charts are starting to get a bit depressive!
On a brighter note, a hear that there is a new movie coming out soon called "Weekend at Elliot's"
It's about a bunch of tragics who find that their messiah Elliot Wave has died and rather than accept the inevitable,
they dress up his rotten stinking corpse and drag it around the ghetto pretending that he is still alive and that someone cares.
It is bound to be a graveyard blockbuster I am sure.![]()
Get that Omega seamaster
This is my alternative to the chart at https://www.silverstackers.com/foru...spot-watchers-spot.7611/page-427#post-1265131
It's basically scenario 2, assuming that the lows toward the end of 2022 were the start of a new longer term bull market and importantly discounting the possibility that the impact of the banking crisis on the POS was a grey swan. IMO if you think that the banking crisis was a grey swan then this chart holds less credibility as the price action could resume its long term downward trend especially as talk of a recession seems to be more common than a soft-landing.
View attachment 79691
Thoughts anyone? Chart 1 or chart 2?
This is my alternative to the chart at https://www.silverstackers.com/foru...spot-watchers-spot.7611/page-427#post-1265131
It's basically scenario 2, assuming that the lows toward the end of 2022 were the start of a new longer term bull market and importantly discounting the possibility that the impact of the banking crisis on the POS was a grey swan. IMO if you think that the banking crisis was a grey swan then this chart holds less credibility as the price action could resume its long term downward trend especially as talk of a recession seems to be more common than a soft-landing.
Thoughts anyone? Chart 1 or chart 2?
@Oddjob is one of themWho are those people?