The main trend on the short term is bearish as we are in the what could turn out to be an awakening to a US stock market depreciation. Although we are still at the initial stages, many experts consider this to be the beginning of the financial earthquake.
Silver and Gold have been regarded as a safe haven for centuries now and this time it will not be different. In case of a deepening of the US stock market downturn we could see a quick run to precious metals as an investors' attempt to hedge against a potential recession in the US stock market.
Chart: XAG/USD H4
It's still quite bearish.
ReplyDeleteI'll keep your assessment in mind.
ReplyDeleteIt's quite bearish indeed.
ReplyDeleteThere is still space for further decline
ReplyDeleteGood post.
ReplyDeleteUnder pressure by the strengthening of the US dollar.
ReplyDeleteGreat daily note as always, thank you!
ReplyDelete