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Silver Gold Stackers

Weekly Silver Report - From the Churn to the Burn

@handofzara@handofzara (70)847d

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Last week I wrote the following:

image.png 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:

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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.

image.png source: JM Bullion

The premium on American Silver Eagles remains around $7 per ounce.

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Peace Out and Stack On!

Comments · 10

  • @kerrislravenhill(74)· 846d

    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.

  • @thebighigg(78)· 846d

    Let's cross our fingers it stays on this trajectory. I wouldn't be surprised if we start testing $35 next!

  • @joshuaslane(72)· 846d

    "Weel said mukker!" 😉 -Keptin C-Slane-12.jpg minnows.2.jpg

  • @temileke(64)· 846d

    The price is actually in a very good position to make a massive movement upward but nevertheless let's see how it performs

  • @yellow74(55)· 846d

    I love how the silver is appreciating and I pray Hive should follow in suit

  • @rafzat(71)· 846d

    I wonder where silver is jumping to😅 I’m loving the uptrend style

  • @djbravo(75)· 846d

    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.

  • @tough(58)· 846d

    Thank you dear friend for giving us this comprehensive report of how silver is actually performing

  • @annievictory(65)· 847d

    Very powerful update. Thanks for sharing

  • @ssg-community(69)· 847d

    You received an upvote of 100% from Precious the Silver Mermaid!

    Thank you for contributing more great content to the #SilverGoldStackers tag. You have created a Precious Gem!