If you missed the long entry in Silver, you can still get in as depicted on this chart, either after price makes a new daily high, or on a dip to 16.185, with stops under 15.942. In related ideas you can see my long term analysis of silver, as well as the latest trade signal I emailed as part of my trading signals newsletter. I'll be looking to add on dips, since our first entries are out of danger currently. It's still early to join this trend, and I expect it to evolve over the course of weeks. We'll monitor price action and the reaction to the Fed on June 15th, as well as the UK Brexit vote by the 23rd. I reccomend risking between 0.5 and 1%. Check out my updated track record here: pastebin.com/6CyyqnPT
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Cheers!
Ivan Labrie
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Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance0.00%% on such information.
Ivan, gold is expected to drop back down somewhere this week after the big up move from last week. I was in on silver since the breakout+pullback on the weekly chart, but since there is a big correlation between silver and gold, do you expect the same pullback in silver?
IvanLabrie
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I don't know about a big pullback, if we get one, it'd be a buying opportunity I think.
I try to mostly react and not predict, specially in this fundamental and technical enviroment.
I'm holding longs, and will add if we retrace as per my plan. If for some reason, price action suggests adverse action, we might have to scratch the longs and wait for more clarity, but I don't expect that for now.