Price may hit $27.50 and challenge $28, before falling back to $27.05-ish.
For another vantage point, consider that silver’s price has gone up 9 of the previous 14 trading days.
This suggests that already low inventories may decline further, so prices are set to remain elevated.”
Silver outperformed all 5 assets in the metals asset class since the day prior.
It tracks the $ spot price of silver converted to rand.
Anything you suppress for 150+ years has a lot of energy that needs to be released.
Those trading within the metals asset class should know that silver was the worst performer in the class today.
Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed up.
Out of the 5 instruments in the metals asset class, silver ended up ranking 2nd for the day in terms of price change relative to yesterday.