Round bottom bounces off longer term support
I heard a rounded bottom is a stronger support low than a sharp bottom. This one seems much more rounded than all previous. We see support from the descending channel that we broke out of and longer term lows from before and after 2011. Those longer term lows can be seen in the light green line in the following chart
In addition, we can see we're at the low in a very long term trend comparing SILVER to the money supply. In fact, besides the balanced budget around 2000 and the lows of the COVID crash, silver has never been cheaper compared to the total money supply.
In addition, we can see we're at the low in a very long term trend comparing SILVER to the money supply. In fact, besides the balanced budget around 2000 and the lows of the COVID crash, silver has never been cheaper compared to the total money supply.
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