Silver just crashed below $50 for the first time since November.
It was above $120 in January. đł
It's down 14% in October alone, and the reasons stack up:
Fed is signaling higher-for-longer, energy prices are surging, and tech stocks are crashing.
That's forcing sellers to dump silver for margin calls.
RSI is 21, one of the most oversold readings in a year. But oversold can stay oversold.
I'm only in above 52.5, targeting 55.9 then 64.7, with a stop under 48.5.
Is silver a once-in-a-year discount or a falling knife? đ
#Silver #XAG #CryptoTrading $XAG
DYOR / NFA
It was above $120 in January. đł
It's down 14% in October alone, and the reasons stack up:
Fed is signaling higher-for-longer, energy prices are surging, and tech stocks are crashing.
That's forcing sellers to dump silver for margin calls.
RSI is 21, one of the most oversold readings in a year. But oversold can stay oversold.
I'm only in above 52.5, targeting 55.9 then 64.7, with a stop under 48.5.
Is silver a once-in-a-year discount or a falling knife? đ
#Silver #XAG #CryptoTrading $XAG
DYOR / NFA
