- Analyst charts show a very bearish technical outlook for both Gold and silver.
- The current price action resembles a classic bubble chart that can fall a long way before finding a bottom.
- A period of several months of calm is seen as necessary to define a sustainable low, which is not on the cards in the near term.
- Silver is viewed as potentially falling to the $40-$50 range, which would look very “normal” for its volatile nature.
An analyst who publicly called the precious metals rally is now warning investors that the charts for gold and silver look “very ugly” after a significant decline. According to Forbes and their YouTube channel, the commentator successfully sold near the top but now sees a concerning technical picture.
Consequently, they advise trading what you see on the chart. The current pattern suggests the decline could have much further to go unless a major change occurs.
Meanwhile, silver is described as the “fast horse” and remains retail-driven. Its chart is also heading down with a potential target in the $40-$50 range.
However, charts are not fate. The analyst notes that trillions in liquidity flowing into popping AI IPOs and a potential Nasdaq bubble may drain hot money from assets like Bitcoin and precious metals.
This could create future buying opportunities. The commentator will wait for the chart to clearly signal an uptrend before considering a new position.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
