To summarize, I’m encouraged by the bull flag pattern forming in silver right now, as this classic continuation pattern indicates even further upside ahead...
Silver’s strong June is especially notable because typical drivers like futures buying and SLV-share demand don’t fully explain it. This suggests rising global investment demand. It’ll be interesting to see how it unfolds.
Connecticut Gov. Ned Lamont (D) signed House Bill 7287 into law, which includes a provision removing the last remaining tax on purchases of gold, silver, platinum, and palladium bullion.
The breakout target is $44. But to realize that, we need to recover soon and see new highs above $37.30 the high so far. Indicators are for the most part neutral here.
On June 5th, silver finally broke above both the $32–$33 and $34–$35 resistance zones that had capped its upside for the past year, frustrating many silver bulls, including myself.
