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© 2015 by QuantZombie.com

SIlver is working out.

July 25, 2019

1 month ago, in our last blogpost after a long hiatus, we mentioned that "silver looks yummy" and that we finally took a position in silver.

 

We also took a stab and do something crazy and drew in where we thought silver would go. Of course, this is just a probabilistic set up and we could have been off; it it sure feels good when it looks close to it. We based this based on our views on TA, statistics and macro-economics. https://www.quantzombie.com/single-post/2019/06/20/SIlver-trade-now-is-good-reward-to-risk-oversold-and-cheap-that-could-lead-to-a-bottom

 

This were our projections on 19 July 2019.

 Here are the prices today.

We thought that July was an intermediate bottom, and that we would get at least 2 moves upwards. The first move up has occurred, and we think after a consolidation, a second move is likely. Whether you get a third move up depends on the situation and headlines after the second move up.

 

As long as no extraordinary macro-economic situation occurs (FED rates, China war escalates, the continuation to $17 is likely. 

 

Although I suspect prices will go higher than $17, we will reserve comment until later.

 

Till next time, everyone stay safe,

The QuantZombie team.

 

PS: I am still long silver.

 

 

 

Disclaimer: This site has been designed for informational and educational purposes only and does not constitute an offer to sell nor a solicitation of an offer to buy any security which may be referenced upon the site. Please consult your own financial adviser to determine what trade is appropriate for you. See our full disclaimer here.

 

 

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