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.
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".
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.