Please follow us on Gab, Minds, Telegram, Rumble, Truth Social, Gettr, Twitter, Youtube
What are the charts saying now???
Gold was down 10.47% for the week and went below its 50-day moving average on March 18, 2026, silver was down 15.82% for the week and went below its 50-day moving average on March 12, 2026, and the Dow Jones Industrial Average (DJIA) was down 2.19% for the week and went below its 50-day moving average on February 27, 2026 and went below its 200-day moving average (a significant trend direction development!) on March 18, 2026.
Gold is down 17.54% from its all-time high which puts it in correction territory. A 20% decline is bear market territory. Silver is in bear market territory being 41.9% below its all-time high. The DJIA is 9.2% below its all-time high and near correction territory.
Some traders and investors look at Fibonacci levels to guide investment decisions. Here are the Fibonacci retracement and expansion levels. Key percentages include 23.6%, 38.2%, 50%, 61.8%, and 78.6%. These can be used as guidelines for entries and exits. Silver is near its 50% retracement level from its recent all-time high and I have customers making purchases at these levels.
Until next time…
Get the latest on NYC and the Empire State delivered straight to your inbox
