Community post
Weekly Silver Report - Consolidation
Last week, I reported that silver was in the process of a retest of the prior "break out" level at $30 per ounce. Weekly Silver Report - The Retest
Silver has had a great run to the upside breaking a multi-year Resistance level at $30 per ounce. It is not unusual after such a nice run for silver to take a rest and a retest. Silver remains in an UPTREND. An UPTREND is defined as a series of HIGHER HIGHS and HIGHER LOWS.
The old saying is Resistance becomes Support. So far the $30 per ounce level has acted as Support.
A new Resistance level has formed at the 32.50-26.25 and only put the silver market into NEUTRAL.
source:JM Bullion
The premium on American Silver Eagles is around $7 per ounce.
Peace Out and Stack On!
Replies (13)
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! https://images.hive.blog/DQmT7RQqkpjXrjR43HZgPkPghGxUYDHPu7A68diYnmgbB64/round_gem.png
At least it closed above the $30 handle, which is still significant in maintaining the upside potential.
I think it's likely going to be around the new floor here for a while unfortunately but would be great to see some action one way or the other 🤣 !BBH
Looks like silver is about to have some correction
Maybe it’s the dumping season now
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I am still quite positive that silver will still definitely do quite well in the market
https://x.com/lee19389/status/1798461029753479199
#hive #posh
Haven't seen ya around in a while. Hope all in well friend! !PIMP
I appreciate you checking in on me. These past two months have been very hard. I will be back in the running soon. Again thanks for asking.
Sorry 2 year that.
Hoping things are getting better or hanging in there. Drop a line what u can old friend.
!PIMP
U can earn while you are away and it would add up. Talk to @buggedout about it. Delegate 5K and earn a little weekly dividend for when u come back regularly 👍
Hey bud. Just checking on ya. Hoping all is well!
Now we are very concerned about ya!
Hoping ur doing ok!