I just received a disturbing call about the price of silver | The Economic Ninja

Hey everyone, economic ninja here. I just received a phone call about what is happening in the silver price and what is going to happen here in the near future. I want to go over that phone call. I actually asked the person that was giving send me the call about a warning in the drop of silver price to go ahead and make a video for you. And I’m going to show that video in a second. I want to share the screen first and show you what’s going on and what we can do about it, how we can take advantage of this.

So this is CNBC right now, as you can see, silver price down a four and a quarter percent. You guys know that I like to purchase silver on weakness and I just made a purchase. A four over four percent day is a good day to be able to be picking it up. So I picked up some physical bullion to store away in the in the vaults. And but this call that I received looks like it can go a lot lower. And so we’re going to share that. But first, I want to share this story. This is out of fxtreet.com silver price and silver price slides further below twenty eight dollars.

It’s the lowest since May 9th. However, on the year since January, I believe we’re still up 15 percent. So silver remains under heavy selling pressure for the second straight day on Thursday and dives to its lowest level since May 9th around the twenty seven eighty region during the Asian session. It’s going to get better than that. I’ll share with you that video from a technical perspective. It says here a sustained breakdown through the twenty eight to sixty five to twenty fifty five horizontal support, which coincides with the hundred day simple moving average could be seen as a fresh trigger for bearish traders.

Moreover, oscillators on the daily chart have been gaining negative traction and suggest that the path of least resistance for silver to USD is to the downside. Says here on the flip side, though, any meaningful recovery attempt now seems to confront stiff resistance around the twenty fifty five twenty sixty five region. Now, I’m going to share with you this video and mind you, the person on the video doesn’t take anything in life serious. And I can say that from absolute experience. And the price quoted is the price of S.L.V., which when compared to the spot price of silver is lower.

If you’ll see right here as of just live, we’re looking at twenty eight dollars and four cents on the spot. And if you jump in here real quick, let’s go. S.L.V. price right now live, you can see twenty four compared to the S.L.V. price is twenty five forty seven. OK, so a different price. So when you see this person giving you the information of the trade opportunity, you have to look at right now what he’s going to be showing in the chart is twenty five forty seven. Again, I wouldn’t take a lot of what this guy says serious, but except when he comes to charting, he’s pretty darn good.

All right. And he’s a good friend of mine. So without further ado, you’re going to see why I give you this little buildup right here. I’m taking this serious. All right. Here we go. Well, as for our station, this is silver and my hair is quite better than yours is walking the sharks. I’m just going to disappear here, make myself a real ninja. But all right, guys, so check this out on silver. And my apologies if it is holding up a ghetto cell phone. Anywho, you know, here we go. So silver, I mean, this sense and something extra ninja.

If if it breaks this, this is where you put it short. That means you make money going down now. Now, how much money? Well, that just depends on if you know how to trade options. But any who, back to silver, you are in what’s called a megaphone pattern. No big deal. Also, I don’t buy bags here at four. So that’s that’s where I swing now. Now, listen, listen, there’s going to be a swing. So for those of you that are like, shoot, I want to make money on this. OK, it’s going to it’s going to get a beat down.

OK, that you’re currently experiencing. Let me turn on a couple indicators. I’m going to show you where the bounce. I know shock. I can actually tell you where it’s right on that green thing. It’s called my I I call it my trampoline. Also, let’s let’s not just draw random blue lines on the screen. Let me let me zoom in here for so you guys can see it. I don’t want to zoom. I’m going to zoom in. So here we go. We have Johnny. So all right. So looking at this, let me move that here. Let me turn off my my line.

I’m moving to candles so I can show you what happened. What’s going on? It’s all great. It’s boring. I know. So I’m going to make it look pretty. OK, so I’m going to turn on my Bravo kit. It tells me exactly what’s going to happen, where it’s going to go. Right here. Whale came on purple. It’s like it’s like a rubber band getting expanded. It’s going to pull back and you’re going to make money going down seven eight nine. Well, this is where Bravo made money going down seven eight nine right here. This is it.

Whale comes on. You’re going to make money going down. Do you have any whales? Do you have anything? No, you currently do not. You had purple pullback. It’s going to have a beatdown. It’s probably going to bounce at by the gas. Twenty twenty four eighty three. You’re going to find a bounce off of that. You’re going to take that swing trade up. It’s going to do something like, oh, this blue line, this is my Bravo nine. All right. One candle. You want one candle above the nine. Put in a buy and make digits go higher. There are options.

They go really high. But any who, back to back to my best friend, whom my hair is better. It’s better. If you only knew how much that dude spent on his hair, time and money, you wouldn’t take him serious either. But hey, honestly, we are good friends. Very good friends. And I do take his charting very serious. He’s got great skill. Now, remind you, when he’s talking about the price, so he’s saying that it could possibly bounce off of the 20 mid twenty four price, which would be about another 60, 70 cents lower from here.

So I layer my trade. It’s in. I went and just locked in a trade right now. I’m going to be also layering in some more trades. The downside, again, I personally like to buy everything on weakness when I understand the fundamentals and hopefully you’re doing the same. Hope you got something out of this. Thank you, Jay Bravo, for sharing that information with us. Always appreciate the sarcasm. With that being said, everyone, the economic ninja is out. [tr:trw].

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