CLICK ON CHART TO ENLARGE
Silver rallied sharply yesterday…for a while at least! What stopped its rally? Looks like its 23% Fibonacci resistance/overhead resistance stopped it dead in its track. Shared the above chart with Premium members yesterday morning, during a very fast market.
Regardless of the product, when market momentum is to the downside, investors need to harvest at support and then if aggressive go back short on counter trend rallies! I cited that $27 should be key support for Silver (see Silver support), yet after yesterdays morning rally, $27 was a good percentage lower!