Ah_Meng
01-06 23:33
$ProShares Ultra Silver(AGQ)$  We all know what happened... Trump is moving to the next stage of petrol-dollar, or trying to do the old... remember Iraq 🇮🇶 and the so-called weapon of mass destruction? Now it's Venezuela 🇻🇪 , the country with the biggest proven oil reserves. Not forgetting Iran 🇮🇷 and Libya 🇱🇾. All the above were moving away from petrol-dollars or using USD for their oil trades. The next thing we know, US had started a war with those countries, directly or indirectly. There's always some excuses. The outcome is always the same. Back to the use of USD for those countries' oil trades!

Trump did what his predecessors did. He is simply a lot more arrogant and aggressive. At least he did fake his intentions. So what? What can the world do to him and USA 🇺🇸? 

The action has generated much fear and growing mistrust of Trump and USA 🇺🇸. The outcome? Precious metals led by the more volatile silver shoots! Silver is shooting despite CME's intervention, despite Bloomberg Commodity Index (BCOM) rebalancing in mid-January. 

Am I worried since I have been holding the line all these while? I am not worried but does have certain concern on the upcoming potential double top (remember $82 was the precious high?) From $82 to its current base at $70, that's a $58 target price! I do have some concerns as a result. However as a primal bull 🐂 of silver, if that comes to pass, that's likely my accumulation region. 

There are quite a number of points I will be paying attention in today's new run. Obviously $82 for silver is one of them. The other is copper, breaking $6, its new high is worth celebrating! As far as industrial applications are concerned, silver and copper prices run are connected. Therefore, copper breaking new high is worth noting! It further supports the thesis of possible silver price breakouts. Gold, platinum and palladium are sideshows worth paying attention too. Especially gold. If they can also break their previous respective highs, silver run is here to stay. Breaking $82 won't be difficult. The question is if $90 is attainable in the short run. That would be the point to watch, using $82 as the new but strong support.

Finally, even if $82 should failed in the next couple of days (yes, days if not hours), this bull 🐂 run in silver is far from over. As mentioned, $58-60 are the likely base. Having said that, since most chartists will be watching $82-84, if the price action fails, the drop will be fast and furious too! Beware and take the necessary precautions.

Lastly, RSI for silver is just recovering, so there's no sign of overbought. This provides silver supports further ammunition to push higher... that's is at least what I see, for now.

@Tiger_comments @TigerClub @Daily_Discussion @TigerStars @CaptainTiger 


Gold & Silver Rebound: $5000 is Within Reach?
Gold and silver prices have surged once again, with Bank of America predicting that gold could reach $5,000 by 2026. The bank also forecasts that silver may soar to a peak range of $135 to $309. This optimistic outlook highlights the potential for precious metals to thrive in the coming years, driven by economic factors and market demand.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • Porter Harry
    01-07 14:08
    Porter Harry
    Thanks for sharing your investment!
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