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Line (1) is drawn from the two highest highs in Silver over the past year. Now Silver is back at line (1) again and two other lines at (2).
Is now the time for Silver to break this series of lower highs? A breakout would be a positive for Silver and would want to follow a breakout shoudt it take place!
Metals smashed today…..a perfect analisys Chris..
What could be the next support for silver if we are going south..?
Josh….Not a good sign for sure! Great observation Josh and Thanks for sharing.
Not good for this to be taking place with Gold up against a 4-year resistance line!https://www.kimblechartingsolutions.com/2012/02/gold-is-facing-a-4-year-resistance-line-can-it-leap-above-it/
Hi Chris..”On Balance volume is NOT moving higher along with SLV of late!”
…are you suggesting that it could be a Bull Trap..?? silver is just closing the gap…
Thank you so much
Aaron…Nice breakout of SLV above resistance on 1/26 (see post here)
SLV has filled a few key gaps. Another large remains above current prices in SLV…I am surprised that On Balance volume is NOT moving higher along with SLV of late!
Time to ride the silver train!!!
Wait for pullback to new support?
Silver needs a few percent more to break the line, around 3%. I don’t prefer leveraged ETF’s when a 1x can be purchased. The one guarantee with leverage…it can make a bad decision a little worse.
$SILVER would need to hold above the resistance line correct? Most likely close above?
What would the break out price be in SLV?
I would say that a close or break above 34.65 on SLV should do the trick since that was last Friday’s high
Would you consider AGQ?
Would you think that SIL should follow?