Last week I wrote the following:
Weekly Silver Report - The Churn
At the end of this week the Bulls took control and blasted through the $30 per ounce barrier.
Silver remains in an UPTREND. An uptrend is defined as a series of HIGHER HIGHS and HIGHER LOWS.
Is $30 per ounce silver a "big deal"?
Below is a Monthly Chart of silver:
For several years $30 per ounce has been a strong resistance level for the price of silver. On Friday, that resistance level was breached.
There is a saying: Resistance becomes Support. So at sometime in the future silver can be anticipated to "retest" the $30 per ounce level.
What remains to be seen is whether the $30 per ounce level will now be Support of the price of silver.
source: JM Bullion
The premium on American Silver Eagles remains around $7 per ounce.
Peace Out and Stack On!
"Weel said mukker!" 😉 -Keptin
I wonder where silver is jumping to😅
I’m loving the uptrend style
Very powerful update. Thanks for sharing
Let's cross our fingers it stays on this trajectory. I wouldn't be surprised if we start testing $35 next!
At times like this I'm glad to have been Stacking slowly over years, paying off my debts, and not have to play "Beat the Clock" with my finances.
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Thank you dear friend for giving us this comprehensive report of how silver is actually performing
Last week I said that it is in a good position and the price can go up from here, so now we will see if there is a good bounce in the price.
I love how the silver is appreciating and
I pray Hive should follow in suit
The price is actually in a very good position to make a massive movement upward but nevertheless let's see how it performs