Gold Market Wire
News, analysis and commentary for gold traders and investors
Silver Market Update
Silver Update (Take 2)
November 4, 2021 - (Gold Market Wire) - The market is settling back into its previous mode, now that the sell-off has abated. The relatively quick re-capture of previous levels reveals exactly how news-driven the sell-off was, and how insubstantial it actually is. Looking back we can see how the fibonacci retracement worked:
The answer is 'not bad, actually'. Especially the 38.2% which is right where we got back to back closings and openings on Nov. 2 and 3. The power downtrend is being bettered now. We need to hold this into the close today.
addendum: it looks like our original channel's demise was 'greatly exagerated' and has been resurrected.