Silver peaked at $32.75, fell to $30.24, rose to $32.51, and dropped again to $30.44. Testing under $30, the breakout point, is possible. Strong support is evident down to $28.
Louisiana’s sound money bill simply affirms that “any gold or silver coin, specie, or bullion” issued by the United States government is considered legal tender whenever voluntarily agreed upon by both parties to a contract.
The Supreme Court upheld the state's right to maintain its own charter and allow state banks to issue gold-backed currency, bypassing the Federal Reserve's corporate system.
Over the past six months, Silver demand has shown a clear trend: aerospace and military sectors are the top consumers, with solar energy trailing in a distant third place.
Silver suggests that wave ii did indeed end at 18.01, and we are working on a powerful wave iii rally that is full of nested bullish waves, as shown on our Daily Silver Chart.
Hemke noted that after a decade-long wait, silver has caught up with gold's 10-13% rally above $2100. Despite rising rates, gold is at record highs, and silver may now outperform.
The price action in silver is currently far stronger than gold. The pullback to the $30 area features a potential inverse H&S bull consolidation pattern, which is bullish.
