Silver formed a hammer yesterday as price breaks the short-term price trend. The 2 trend support levels at 46.00 look like a good place to buy. Watch the possible shooting star on the monthly chart below, signalling a long consolidation (unless of course 3 days trading negates it.
Many are still comparing the spike to 1980 and 2011 but the reasons for the spike are different. Now it’s all about supply. Silver, like Oil, has always been difficult to trade but easy to invest in, assuming you have a few decades to spare.
We think this time is different and Silver is going a lot higher, but from where now? We’re back in at 40.00 if it gets there and price action will give us plenty of time to finesse that entry point.
