$ProShares Ultra Silver(AGQ)$ Things seem to be settling down for the day after hte initial early trade panic. Perhaps this is a time to take a position and ride the wave up from here ?
$XAG/USD(XAGUSD.FOREX)$ Iranian truce looks like it won't hold now that the US has attacked an Iranian cargo ship. The second round of peace talks has been cancelled. This is why we are seeing Silver, Gold andstock futures starting the week low. We may likely see some retracements down today. Wait for opportunities to buy in. But not today. Give it a few days to see what trend is first. Remember, never hope to buy at cheapest, never hope to sell at highest. Don't let greed eat you alive.
Iran is following Trump's behaviour. One step forward, two steps back. Trump's Art Of The Deal. And market will probably react negatively on Monday again..... Sigh.
$XAG/USD(XAGUSD.FOREX)$ Gulf talks gaining pace. Both sides needs to end this stupidity really fast. So too the Gulf states as well as the rest of the world. Precious metals will be resuming their business-as-usual movement, which is talking AI and Chips, etc. Silver will be the main metal to benefit from this.
Very impressive recovery seen over the last week. A bit of yo-yo at the start but now settling in to a super-bullish phase. We may again see some volatilty but for the longer term holders, just key view on the megatrend. Silver is a precious metal that has universal indistrial applications. The AI and Quantum theme that is driving the Tech boom now needs Silver, along with rare earth. Even clean energy industries like EV and Renewable energies needs Silver. Put all these together, do not be surprised that Silver will get back about $120 again. Watch this space.
Both sides needs a win. And they need thisvery costly war to end. We may see a formal peace agreement happen by the end of the month. It was very foolish of Trump to think he could finish Iran off easily. Even more of a fool to have been played by Netanyahu as he had been.
Silver and Gold Trading Pattern Detection I expect some retracement coming next week. The truce news lead to a one day super rally which promptly corrected down before the dayeneded. But it was still a nice day run. The next day we saw some up again with the scare about truce being violated not getting worst. But it will now be BAU. Expect profit taking and sense of caution to get in again next week.
I am long term long on Silver. But please do not mistake this to mean I am saying it will be a straight up all the way. The situation is still very volatile and short term traders, including big whales, are trading up and down at a very fast pace. After today's spectacular run up, I expect some retracement coming from profit takers squaring before the weekend. This would be the smart thing to do as Tacos Trump may make more trades and issue wild destroy-the-world statements. Somebody in the US government should grow soms balls and conduct an investigation into Trump and his cronies on their trafing patterns. For now, I am going to safe mode temporarily.
$ProShares Ultra Silver(AGQ)$ Stay vested if you believe in long term of precious metals. Silver is a highly played metal which has teally dynamic price movements. And this is wht speculators like. For day traders, you may play according to news and sentiments. But this is also high risks as most people can't time the markets accurately, most of the time. However, at the end of the day, remember the world has always gone back to gold, and silver. Their value never diminishes. And especially for silver, there is a real demand versus supply issue. There are not enough silver being mined to feed the needs of the tech industry. Especially with AI now being the new unicorn.