Which comes first: Freezing and starving to death, or currency collapse?
Is that a hyperbolic statement?
Short answer, is no.
Here are at least two boots-on-the-ground sources that paint an incredibly bleak picture of what is to come in just weeks for Europe.
As with the Texas Freeze, the last thing on anybody’s mind was their “stack” of silver.
The humanitarian crisis is happening now, if not soon. Currency collapse may be months if not years away.
Which brings us to the precious metals and specifically silver, SLV.
The past few trading sessions have formed a repeating set-up: Spring-To-Up-Thrust.
Silver SLV, Daily
Note, the Pre-Market activity is far below yesterday’s high; the bulls may be trapped.
Typically the first order of business is an attempt to close the gap. If that happens, price action is then narrowing the risk on a short entry (not advice, not a recommendation).
One typical trading vehicle for shorting silver (other than the futures market) is 2X Inverse Fund ZSL.
The bulls think it’s finally the launch they have been waiting for … all these years.
It could be … anything can happen.
However, that does not take away from the fact we’ve got a trade set-up that may offer a low-risk short entry (not advice, not a recommendation).
Charts by StockCharts
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
The Danger Point®, trade mark: No. 6,505,279