Silver fell this past week by 2.8% but remains up 14.5% for 2024. We did find support above $26, a level we considered quite important to hold if we are to move higher.
Despite it all, silver remains up 17.9% in 2024 ...We do see support down to $27.50 and better support at $26.50, but we wouldn’t want to see a breakdown under $26.50.
Silver once again took it on the chin, falling 4.4%. Silver is still up 16.3% in 2024. Nonetheless, the weakness in silver suggests to us that this corrective period is not yet over.
Silver had a bad week. It plunged, down almost 6% and dropping below $30 once again. That’s the bad news. The good news is it held for the moment above $29.
