Silver… Any Questions?

The title could be read as a cocky blogger exhibiting bravado as his target came in to perfection today (ooh, look at me but just don’t look at the bad calls in the closet). Ah, but it is not anything like bravado because to answer the title’s question, I for one have questions because we’re at target but I’m damned if I can pretend to know what it is going to do from here.

Here’s what we have going on. The logical 5th leg (3rd up leg) from what we noted (in real time) in NFTRH as critical short-term support has overthrown resistance and the SMA 200. Nothing like silver when it takes the bit in its mouth. Before the COVID crash silver’s chart was still trending up after having made a nice looking base from September to February. The look of it was bullish but then, the crash.

silver

More and more it is looking like what we speculated might be the case at the time in NFTRH updates and reports; that the plunge below 14 was a final and merciless whipsaw shakeout of the silver bug hangers-on. It had better have been that or the Silver Bullet was going to make an express visit to 8.30 (per a very long-term chart).

silver

So sure, it’s at target. That target could halt the party or it could fail to end it. I don’t know what is in play from here but we’ll sure begin working on it now that the crash and whipsaw has played out.

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