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I've been listening to the arguments about industrial demand for silver for years but never heard anyone discuss economic substitution. Seems to me that once Ag went up 4-5 X that other industrial metals would get more attractive. Futhermore, I am guessing that industrial demand for Ag is relatively inelastic and that the price swings are fully accountable to speculation and proxy trading for Au.

I don't trade with price targets in mind, although I am mindful of support/resistance. When something breaks down like this it is also hard to determine technical sell points, they will typically significantly lag the market unless there is a long basing/accumulation phase.

Other than instinct, my cover will be triggered when either RSI moves above 25 or the Chaikan oscillator improves to -120k. I am fairly certain the RSI move will occur first, maybe within a day or two.

Those are also triggers for me to go long.
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