Nice to see that the battle of the 200DMA has been won for gold and silver. Both support lines are intact. No more 28 AG...phew.
I hope everyone here survive the 'wash and rinse' process during the battle. I think it when through three cycles. I got washed and rinsed only once thankfully. I am sure it happens many times but it was exciting for a newbie to watch in real time.
Where do we go from here?
Gold: if we breach the fib retracement at 1685/6, next stop is the 02jan high which correspond directly to its 50DMA at 1695, then the round # 1700.
Silver: if we breach the fib retracement at 31.51/2, next stop is 50DMA, then round number 32.00 which corresponds to another fib retracement.
If the cartel has unlimited fiat firepower, why don't they break the support lines and cover at a lower price? why don't silver trade at $16? Maybe the rumor that the metals are drying up is true.
Silver has not gone to the moon, but it seems to me that it is harder to break it down further.
I hope everyone here survive the 'wash and rinse' process during the battle. I think it when through three cycles. I got washed and rinsed only once thankfully. I am sure it happens many times but it was exciting for a newbie to watch in real time.
Where do we go from here?
Gold: if we breach the fib retracement at 1685/6, next stop is the 02jan high which correspond directly to its 50DMA at 1695, then the round # 1700.
Silver: if we breach the fib retracement at 31.51/2, next stop is 50DMA, then round number 32.00 which corresponds to another fib retracement.
If the cartel has unlimited fiat firepower, why don't they break the support lines and cover at a lower price? why don't silver trade at $16? Maybe the rumor that the metals are drying up is true.
Silver has not gone to the moon, but it seems to me that it is harder to break it down further.
