Gold Market Wire
News, analysis and commentary for gold traders and investors
Silver Market Update
Silver's Channel Updated
May 17, 2021 - (Gold Market Wire) - As Silver settles in to a new atmosphere, we'll take the opportunity to back up and look at our channel - the one we got so bullish about more than a week ago. We've refined it just a touch, but this should give us some idea of Silver's potential over the next few months.
![](https://assets-global.website-files.com/5d754afa7a6dfa49fd253976/60a27887f09d574eb7bf7b2c_Screen%20Shot%202021-05-17%20at%203.56.40%20PM.png)
No doubt about it - the round number of $28.00 will see the next big challenge for Silver. Aside from the big end of January spike, truly 'clearing' $28.00 has been a problem for Silver. If we get there, this is how we see the potential shaping up for the channel in what could be "Silver's Summer".
![](https://assets-global.website-files.com/5d754afa7a6dfa49fd253976/60a2797aa2c7bfa035786855_Screen%20Shot%202021-05-17%20at%204.01.22%20PM.png)
If we rally hard, this channel could start to give us an idea where to start taking off some length. It has, after all, been a fairly good marker for roughly 8 months now, and deserves our future attention.