Asset Watch
Tuesday, May 16, 2023
The grey arrow on the right side of the chart shows how silver’s May 11 plunge occurred in high volume, which may signal trouble ahead. As a result, monitoring its behaviour around the 50-day MA is paramount, and if the bulls can’t defend the key level, a descent toward the 200-day MA ($21.83) may be next in line.
So, will a crisis of confidence confront silver, or is this simply a correction within a medium-term bull market?