SILVER is struggling to hold $14. In case we break down, we could see a bottom between $8.1 and $9.3. Long term play, shows the benefit of averaging down bit by bit.
Note
Updated a more precise SILVER long term chart. $14-15 is turning into resistance and if price doesn’t turn around soon, we will see $8-9.5 in the near future (between Oct-2020 & Oct-2022), which could be a great generational buy the dip zone.Note
So we either break out soon and close above $16.3 or we break down and head under $10Note
Since GOLD broke out it should be bullish for SILVER. Gold still has to close higher and create support otherwise it could be a fake out.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.