Chris Vermeulen of The Technical Traders joins Elijah K Johnson from Liberty and Finance to discuss gold/silver’s latest big moves. Gold prices had a huge run-up early this year, then the war hit, which created an extra surge. We are now seeing gold pullback and cool off a little bit.
Based on the charts, silver has a pretty similar price action very strong run-up, now flagging sideways, and may start moving up to 29.58 going forward. There should be a lot of selling when silver gets up to this level. The quicker something moves up, the more likely it is to come straight back down when it hits a target.
Overall, there was a pretty deep pullback for gold and silver after the war. The war was a news-based surge and anything news-based that drives price parabolic, usually, that gain gets given back.
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Disclaimer: None of this material is meant to be construed as investment advice. It is for education and entertainment purposes only. The video is accurate as of the posting date but may not be accurate in the future.