Silver is roaring as the longer term cycle is up. We expected that the next short term low on FEB 3rd will be around the 22.5-23.7 price boundary based on the trading range given to us before JAN 28th, given the new insight gained from observing the chart action - the cycle low will still occur but more likely around the 24.30 to 24.60 trading range. Shorts should definitely be reduced at that point and longs considered. A daily close below 24.05 will very likely trigger selling all the way down to 22.8 - 22.3 area - but looking at the situation it is not expected to happen. We should always analyse all possible outcomes and use a simple stop loss order to protect our capital. Remember that futures trading involves a substantial risk of loss and is not suitable for all investors.
Have a peaceful weekend.
Have a peaceful weekend.
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Fresh update is already uploaded.
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25.8 was the low. Will continue train the precision in price. A 5% slippage is not too bad given the magnitude of the swing - can be better.
