How Low Can She Go?

I’m slowly getting into the swing of things here. The new live campaign uploader is now updating the small icons properly which is super helpful. I am now working on blocking subs only campaigns from you leeches and that’ll probably take me a day or two. As they say here in Spain – poco a poco.

Short term the spoos are pushing back a little and I think 1850 is a price cluster to watch as I’m seeing a stack of hourly Net-Lines just below it. If we breach all that then maybe – just maybe we may be ready for a reversal. It would be permissible to grab a long there with a stop below recent lows, right now that’s near 1830.

More long term we’re still without much context – nothing really on the daily until 1800 which is my first medium term target. That means we either go there soon or we bounce a little and then proceed lower. Same difference but different implications for us of course.

The volatility profile suggests that we are not done yet and that big swings are ahead of us. If you compare the signal signature we got last August with where we are now then you see that we are now pushing into a high volatility area. How high it’ll go cannot be predicted. But it does suggest that whatever comes AFTER we start dropping volatility will be ugly and probably full of fake outs and retracements (up and down).

Silver is looking interesting this morning and I’m waiting for a little drop here to snag a long position near 14.05.

More below the fold for my intrepid subs:

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