Though silver has been a sleeper lately, an analysis of the technicals shows that silver may actually be gearing up for a sharp move in one direction or another. Since last summer, silver has been trading in a range between $22 per ounce and $30 per ounce. When silver is finally able to break out of this trading range in a convincing manner, things may get interesting once again. Daily silver chart Finviz.comSilver’s weekly chart puts the past year’s $8 dollar trading range into better perspective:Weekly silver chart Finviz.comThe monthly silver chart shows the $22 to $30 trading range along with other likely resistance levels at $35, $45, and $50 that formed at prior peaks in 2011 and 2012. Monthly silver chart Finviz.comAs I’ve explained earlier this year, I am waiting to see which direction silver breaks out.

Source: Forbes August 01, 2021 02:03 UTC