Commodities and Bitcoin experienced significant increases in value around October 7, which is the date that the Israel-Hamas War started. Commodities and Bitcoin experienced significant increases in value around October 7, which is the date that the Israel-Hamas War started. SLV had a bullish bounce off the yellow trend line on Friday October 6 (marked by the orange circle). The Israel-Hamas conflict started on Saturday, and on Monday SLV started its uptrend.
Key Price Levels: The light blue trend line is acting as short-term resistance that is suppressing SLV's price, but the longer term target is the red trend line if SLV can continue to climb higher. The yellow trend line is a key support level to monitor for a bounce if SLV drops back down.