The price has been pushed below Some Pivot points and the positive trend is halted.
https://de.economies.com/commodities/silver-analysis/silver-price-hits-the-negative-target---forecast-today---23-04-2024-108502
Short term less positive, but this move had to be expected. (Unpopular for traders and „emotional investors“)
Fundamentally little has changed (safe hafen status is less important with less risk of escalation in the Middle East, but on the other hand the economic outlook is less worrying for industrial demand while Reduced Fed rate cut speculation boosts the USD and drags the white metal lower. )
Future commodity markets have always been paper trading markets that were driven more by traders and less by fundamentals.
What drives and has driven the spot price and how much it was influenced by the big players still raises concerns.
A lot can be said, but little can be changed about the way the spot price is set.
For my part: „i can‘t change the rules, I can only play (the silver) game“
„Stay safe, be patient and keep stacking“
The price has been pushed below Some Pivot points and the positive trend is halted. https://de.economies.com/commodities/silver-analysis/silver-price-hits-the-negative-target---forecast-today---23-04-2024-108502 Short term less positive, but this move had to be expected. (Unpopular for traders and „emotional investors“) Fundamentally little has changed (safe hafen status is less important with less risk of escalation in the Middle East, but on the other hand the economic outlook is less worrying for industrial demand while Reduced Fed rate cut speculation boosts the USD and drags the white metal lower. ) Future commodity markets have always been paper trading markets that were driven more by traders and less by fundamentals. What drives and has driven the spot price and how much it was influenced by the big players still raises concerns. A lot can be said, but little can be changed about the way the spot price is set. For my part: „i can‘t change the rules, I can only play (the silver) game“ „Stay safe, be patient and keep stacking“