$SILVER has broken out for now and it may retest the breakout zone. However, the RSI is still in the high zone, which signals caution. We entered in March and booked decent profits at the point marked in the green circle, when the RSI was also high.
At this stage, I’m not buying. I’d rather wait for RSI to cool down and for price to drop below the marked line. That’s just my strategy, I don’t want to chase high-risk entries here.
If I need to add exposure to metals, I’d simply increase my $GOLD position, since it’s a safer long-term play.
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For everyone asking about the $SILVER update 🚨
$SILVER has broken out for now and it may retest the breakout zone.
However, the RSI is still in the high zone,
which signals caution.
We entered in March and booked decent profits at the point marked in the green circle, when the RSI was also high.
At this stage, I’m not buying.
I’d rather wait for RSI to cool down and for price to drop below the marked line.
That’s just my strategy, I don’t want to chase high-risk entries here.
If I need to add exposure to metals, I’d simply increase my $GOLD position, since it’s a safer long-term play.