SLV down today, buy or sell? My Thoughts
SLV is currently at 15.66 right now at the time of this post, down 13 cents. This is expected after 2 days of big moves higher so I am not TOO concerned. However, if I see SLV start going under 15.60, and even worse, 15.50 (previous low) then I will consider selling it as I am currently long right now. If SLV goes up 15.85 it should be considered as a buy signal. As you can see below, I underlined key support and resistance levels. Hope this helps! (Ignore the long wick on the candle for today that is a typo)
i believe it wil keep going down. like everything in the market
I see what you are saying with regard to buy and sell points, but the way I see it, as long as silver is under $20, it's a steal.
I've been buying silver and holding it for years, and the lower it's gone, the more I could buy. If I were to buy more now, I'd buy whenever I could afford to.
And just wondering, but if you would buy at the "15.85 signal," then wouldn't it be wise to buy now? Silver is sure to rise eventually, and it's quite possible that it might not drop to 15.85.
Also, I believe that once the price rises to its true value, it will make little difference if we bought at 14.00 or 15.85 or even 20.00.