If Silver Breaks Resistance, We'll See Buyers
Chris Kimble | Aug 02, 2016 10:15AM ET
Silver peaked in 2011 and even though it has rallied this year, it remains 50% below its peak of 5 years ago.
What would it take to erase more of that 50% decline? How about a breakout at (1). Below is an updated chart on silver over the past 18 years.
Silver's rally so far this year has it facing what could be its most important price point in the past 5 years.
Silver futures are facing a key inflection point/breakout test at (1) above. Silver still remains in a downtrend (lower high and lower lows).
If silver can breakout at (1), it could become attractive and buyers could step forward.
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