Silver to >$35 if support holds
Updated
Silver is at a crucial point which will more than likely be resolved very soon with CPI and FOMC meeting this week.
There is a very strong confluence of support at current levels. The obvious accumulation cylinder is very much still intact.
Any break below $28.50 is extremely bearish, below $26 means it's all over.
If the bull flag is broken to the upside and a daily candle closes above $32.50, we are likely headed to the $35-40 range before another pause.
There is a very strong confluence of support at current levels. The obvious accumulation cylinder is very much still intact.
Any break below $28.50 is extremely bearish, below $26 means it's all over.
If the bull flag is broken to the upside and a daily candle closes above $32.50, we are likely headed to the $35-40 range before another pause.
Note
Support held, looking for the next leg higher once top of channel is brokenNote
Well this didn't work out but we are still good. The longer the correction, the more fuel for the next leg up. Price target $39. May see a brief dip below $26 before that. Watch Gold/Silver ratio for clues.
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