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.
Silver has support down to $29, but if that breaks the next support comes in at $28.50. Below that, we don’t find support until $26.50. Resistance is at $32.
