Relentless selling, how low will it go?TA is telling the traders to continue to sell. Investors such as myself are waiting for lower prices to accumulate more (why attempt to catch a falling knife?). If any shorters jump in on the action it will only accelerate the selling. It appears that this has to capitulate before sentiment will change positive.
For certain, we will break down below 50 cents USD, so no reason to try to stock up right now. The question is, will the 45 to 49 cent level finally provide support?
The good news is, for anyone who missed the boat prior to Sprott's buy-in three years ago, you will be given a second (and final) opportunity to establish a position at insider prices.