This pullback of price is actually a good sign for Silver long term. Basically Smart Money is driving the price down as hard as they can to trigger all of the weak retailers into selling. This is also where a couple of things happen. Firstly guess who is buying the pullback? The smart money!
Secondly once they know there is no more supply the price will begin its overall upward trajectory as they restart to accumulate again. Everyone must remember this has been probably the most bullish run on certain commodities in our history. It includes Gold, Silver, Copper etc So if you are long Silver see this is as normal market mechanics working.
If you want to know more about how smart money works in these types of money then Google or ask ChatGBT “what the Wyckoff Model is?”
I’ll kick it off just to give you a quick feel in more detail from what it summarises it as from ChatGBT to make it clearer and leave it up to you to dig deeper if you want.
From ChatGBT “The Wyckoff Market Model (often spelled Wyckoff, after Richard D. Wyckoff) is a classic framework in technical analysis that explains how large, informed players (“smart money”) move markets and how price action tends to unfold in repeatable phases. It’s less about indicators and more about price, volume, and market psychology.” ……it then goes on in detail to explain it all.
Lastly this model applies to all liquid markets, stocks, commodities etc so worth having a brief knowledge at least as it can help to make you $ 💵…. Good Luck
submitted by /u/Maximum_Fun203 to r/Silver
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