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.
You're seeing targets of $50 in silver and $3,000 in gold. Absolutely yes, but not yet. We want to stay in the wall of worry for as many years as possible to produce the highest move at the final top.
Silver eked out a 0.5% gain on the week, despite last Friday’s sharp pullback. Silver lost $1.21 this past Friday or 3.9%. Otherwise, it would have been a good week.
