Loading ...Silver is almost assuredly headed below $25…
The black weekly candle from the week of January 11th closed at $24.87. At this point, I think the odds are high that we get a weekly close below that level before this correction is over.
Best case, silver bounces off the 200 day MA, currently at $23.80 and rising. Worst case, it bounces off the 50WMA which is currently at $22.30 and rising.
Silver price action is very weak. AG and PAAS started moving down in price before silver did. I think your numbers are in the ballpark. Another story is what does that do to the inflation story? Copper junior CPPKF is well off of its recent highs, FCX is up today but the question is is it starting to build out the right shoulder of a H & S pattern.