Prepare for Hysteria

If you know something’s coming, then you can keep your head when it actually happens.

Nothing seems to bring out the (dollar collapse) pundits more than precious metals and specifically silver; we can throw in Nvidia as well, but that’s another story.

Strategically, Wyckoff analysis all the way back to April, of this year has proven correct.

That is, silver is not launching into some kind of hyperinflation breakout; it would have already done so.

No, silver is either preparing for a downside reversal or sideways congestion (not advice, not a recommendation).

We have one datapoint after another, the consumer is strapped; corporations, industries using silver are collapsing, going bankrupt; bullion dealers themselves have said silver demand has evaporated and on it goes.

With that, let’s look at what silver (SLV) is telling us.

Silver SLV Tracking ETF, Weekly

As of this post (10:45 a.m., EST), silver (SLV) is nearing yesterday’s high of 29.44

We’ve got a weekly bearish divergence that will be in effect if there’s a breakout and downside reversal (not advice, not a recommendation).

Of course, the question is, what happens if/when we get a breakout?

One thing is almost for sure, the ‘dollar collapse’ pundits, YouTubers et al., will be out in force. 🙂

Stay Tuned

Charts by StockCharts

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