Ah_Meng
11-19

$ProShares Ultra Silver(AGQ)$  I was proven right. Remember my last post about the double top? That happened in both silver and the corresponding AGQ, toyed briefly with $100 for AGQ and went back down quickly... The underlying silver price hovered around $50, dropping $4 or 8% in quick successive trading sessions. It even went briefly towards $48-49 range, but it was nowhere near the double top neckline, which is around $46. Therefore, rebound in price has been anticipated.

Furthermore, with silver now classified under critical metals list and its annual deficit in place, the price of silver is always going to be supported.

Like I had mentioned last week, I never like a quick price movement. Whenever the price moves too fast, there's always the risk of overbought leading to correction. Meaning quick price movements are not sustainable and unhealthy. However due to previous correction, RSI is currently looking good at around 64. MACD is also in the positive territory. There is definitely scope for near term upside.

We get what the market offers. Follow the trend and be confident to build the position while market is still in the mood. I am looking forward for a good 2025 ending in terms of silver and precious metals pricing in general. 

Make hay while the sun still shines. Stay protected... 2026 is around the corner and I suspect it would not be as market friendly year... especially with the approaching midterms election in US 🇺🇸 . At least if I am American, I won't feel as generous towards the incumbent government given the prices increase all around due to government taxes... or the so-called tariffs initiative.

@Daily_Discussion @Tiger_comments @TigerStars @CaptainTiger 

# Winning Trades

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  • a9032
    ·11-20
    MACD crossover looking bullish [看涨] RSI supports upside
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  • Enid Bertha
    ·11-20
    AGQ should make it to $120-140 by EOY. IMHO

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  • Mortimer Arthur
    ·11-20
    AGQ to 120 before the end of the year.

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