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has been consolidating in a flag since printing its latest all-time high - as shown in a 4-hour timeframe in the chart below.
I expect a period of volatility tomorrow as of 2 PM EST. During this time, the price would most likely break through the top or bottom side of the flag. A daily close below the bottom line could mean a more meaningful correction is about to take place. A daily close to the upside would signal that there is yet another leg up for the bulls, in my opinion.
Although I continue to give bulls the benefit of the doubt, the weekly chart below shows where the price might find support should a correction occur. Until proven otherwise, I would view dips as buying opportunities – especially for stackers of physical metal.bulls have encountered resistance at $25.50. As with gold, my opinion remains bullish till proven otherwise, with the $26 target just overhead.
developed a passion for hard money and economics from a young age having been influenced by family who sought to teach me that"nothing is free", and the importance of intrinsic value early on. My interest in markets grew keener during the great financial crisis of 2008; leaning on family with vast trading experience, I began to self-educate on technical analysis and economics- drawing inspiration from the works of individuals like W.D. Gann and Adam Smith.
The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc.
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