SPDBRNR – Eyes Wide Open
Sports, Politics, Financial Markets, Silver & More

Silver: Technically Speaking

So last week in this column we looked at the possibility of silver finally entering a trading range after a straight up May, and so far that’s exactly what’s happened.  Silver hasn’t yet probed the $14.50 support area, but it has consolidated and bounced around 10-12% below its recent highs.  Of course, throughout history silver has proven to be quite volatile, and it’s quite interesting to think of sizable $$$ coming into silver in a big way – how volatile and bullish the action would be.  What would you rather own, a US Govt bond or the most important metal for the future of technology and advancement of science, that also doubles as real money?   I know my answer.

 The key levels to watch in silver right now remain 14.50 and 16.50.  Any meaningful break above or below those levels could lead to a major, volatile move.  Everything in between is the noisy micro price action that leaves hints as to which way the chart is going to go…watch it closely.

Here is a link to a 6 month chart.

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