A breakout occurs above $79 but we wouldn’t be looking at potential new highs until we break over $107. Silver appears to have good support down to $65. Below $62 silver is in trouble.
Gold and silver and the gold stocks seem to be caught betwixt and between...despite the ups and downs of the past two months, we are essentially going nowhere. We await breakouts.
American stock investors still have virtually zero silver exposure, with vast room to buy. If silver remains higher going forward, silver miners’ earnings will continue soaring making silver stocks very attractive.
Silver could be on the cusp of breaking resistance at $62, but we need to get over $107.50 to suggest new highs. The TGD over 1,000 looks better and over $1,050 suggests new highs ahead.
I maintain my belief that not only will a longer-term resolution to the war be more difficult to attain, but also that even if the war ended tomorrow, there’s still economic damage that’s been done, that I don’t feel has been priced in yet.
