Could happen but I wouldn't count on it. The price consolidates near the next resistance which is 28.50-30$ and formed an ascending triangle there. The chance of a breakout to the upside is high. There seems to be growing demand above 24$. If it were to come down to sub 20$, a lot of people would back up the truck. The market usually does not grant us our wishes. We would need an epic run in DXY to fulfill this situation.
Patrikas10
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@metaloph1l, Yeah, that is just "if" we break down. we truly might pierce that resistance and go higher ;) we shall see
pdbssch
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You're talking about Silver Paper (contract) that it's very manipulated by COMEX. Physical Silver is already above 33/oz
Patrikas10
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@pdbssch, Silver paper contract still affects price of physical silver. Otherwise they wouldn't sell paper to the matket. It won't be a dollar to dollar price of paper and physical, in last crash of paper silver, physical silver fell to, although not that much :) expecting similar events here :)
UnknownUnicorn2686498
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Highly highly doubt this with the cost of just about everything else increasing due to inflation. I can see $50 much easier than 20/OZ
nhimmitout2
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Hi there, Silver just goes up, do u think it will goes down again?
mcul
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Appreciate the analysis but you're living in 2020. The world is different.
Patrikas10
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@mcul, Well they can still dump a lot of paper silver to the market to try to crash it one last time before it truly breaks out :) so tell me, what changed? Their machines and schemes didn't change
MFli
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silver doesn't do anything on its own! always in tandem with gold! getting so low would mean a sky high dollar... that is unthinkable with the current money creation, do you understand this?
Patrikas10
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@MFli, I understand and agree with this :) Will post counter-argument bullish idea for silver