We continue to bang up against that resistance zone at $33, hitting a high of $33.22 but closing at $32.39. It highlights the $33 resistance zone which has held us back now since May.
Silver this past week jumped to a high of $33.02, surpassing the May high of $32.75. But just as soon as one could say “new high”, silver reversed and closed at $31.82.
I will not bore you with the mathematical details as to how I calculated the resistance, but 31.73 is coming up as a very strong point for me over the coming week.
We are inching towards a breakout level at $31.50, suggesting new yearly highs for silver are close. Silver is also leading, which it should in a bull market.
