This shorter term silver chart gives you a pretty good indicator of at what level the sellers are surfacing. You can see that silver is having a bit of difficulty holding above the $30.25 level. We did get one push through there that took it up as high as $30.50 but it faded and has not since been able to push any higher than that $30.25 level.
This needs to be cleared on good volume for another run towards $30.50 which is acting as overhead resistance for any move towards the recent peak above $31.
So far its dips are attacting buying below $29.75 which is a real plus for the market. If it could actually consolidate a bit near these levels it would actually be a bit more healthy than if it took off on a headlong tear higher. Any consolidation would help us discover at what level the market in general is viewing silver as having value.
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