Silver Down Almost 40% From Its January Highs

Silver has taken a serious beating, and yet the daily RSI is still not showing an oversold level as you would expect with the magnitude of the fall.  We could see further downside to the mid 60's before this drawdown is over...

Gold seems in relatively better shape.  the drawdown has been less brutal

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SILVER 72.569 ▼ −0.29%

Gold loses its Lustre

Gold has taken a hard hit this year after reaching new All Time Highs at just under $5600/oz. After recovering from the end of January smackdown, Gold proceeded to give it all back in March as soon as the bombs started dropping in the Middle East- with the bulk of the fall coming in the last two days, -8%!  Let's see if it's able to hold these levels

Silver isn't faring any better--on the contrary...

Gold TradingView.com

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$NDX keeps on dropping

Nasdaq 100 Breaching the 200 DMA— first time since its last break out at the end of 2022.


RSI showing oversold levels. These have been BTD moments over the last 2 years—returning between 20 to almost 50% in its runs from trough to peak.

The corrections, excluding the latest 10% drop in the last 3 weeks, have been 7-13%, averaging -10%, and lasting between 26-102 days, with a median of 28 days.

Will this time be Business as Usual, or is there further to fall?

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