Followers | 689 |
Posts | 143817 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
Monday, May 16, 2022 2:20:33 PM
By: AG Thorson | May 16, 2022
Silver prices have dipped below the $22.50 level on eight different occasions over the last 2-years. Prices are below that level once again. Silver hasn't been this low since July 2020.
Key Silver Price Levels
• To support a cycle bottom, silver needs to get back above $22.50 by month-end.
• Whereas a bearish continuation below $20.00 could trigger a temporary spike lower.
Note- If prices were to drop further, I see significant support surrounding $18.00.
Temporary Decline
Given developing commodity shortages, I don't see silver staying low for long under any scenario.
Takeaway on Silver
As long silver as prices stay below $22.50, more downside is possible.
If silver slips below $20.00, it would likely be temporary as shortages would put an immediate floor under price (real physical investment bars, bullion, and coins vanishing because of cheap paper price).
The first step in establishing a bottom would be a finish back above $22.00.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Lingerie Fighting Championships Signs Broadcast Deal With Maybacks Global Entertainment • BOTY • Sep 26, 2024 9:00 AM
Maybacks Global Entertainment and Lingerie Fighting Championships Enter Into Broadcast And Revenue Sharing Agreement • AHRO • Sep 26, 2024 8:30 AM
North Bay Resources Commences Operations at Bishop Gold Mill, Inyo County, California; Engages Sabean Group Management Consulting • NBRI • Sep 25, 2024 9:15 AM
CEO David B. Dorwart Anticipates a Bright Future at Good Gaming Inc. Through His Most Recent Shareholder Update • GMER • Sep 25, 2024 8:30 AM
Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • BLOZF • Sep 24, 2024 8:50 AM
Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • INTV • Sep 24, 2024 8:45 AM