Is Silver Ready To Hit $50 - 1/29/2026: Will It Hit $130? - Previous Milestones In First Post

I really thought we would've seen a dip this week with china on vacation. Sure not working that way yet. Oh well the vacation is not quite 1/2 over yet . Sit and wait.

Okay so here's what spooked me today and made me dump all of my Paper SLV today. At least temporarily. Above is a daily chart of the U.S. Dollar Index for the past 30 days. You can see $DXY was selling off heavily until it hit the bottom on Jan 27th. That was an over 3 Year Low for $DXY... We were coming out of Covid the last time it was lower than that.

But if you compare this chart to the silver chart, you'll see that silver was topping out that week and made an All Time High, before crashing on Jan 30th.... And it's been selling off since then.

$DXY however has been climbing steadily since then... It's been following an upward trend line represented as support. And bumping it's head up against an upper trend line, also known as resistance... Until today, when it broke through.

The green candle to the right, in the circle, happened today. The last red candle after that is the overnight (beginning of tomorrows candle). So anyway, as you can see the green candle broke out of its trend and appears like it may continue to climb the support line.

To me this is a temporary head wind for the metals. Strengthening dollar normally equals weaker Gold and Silver. But these aren't normal times by any means are they.. So for now anyway, I'll be looking for the dollar to weaken and fall through support. China being on vacation (less buyers) just makes me feel worse about it.

So I'll be sitting on my hands until I have more clarity. This is just my personal plan, my paper trading thesis, not investment advice.

Yeah, except it's kind of like when your doctor shows you an electrocardiogram chart of your heart rhythm, and he points at a few blips he circled and says "see there, that's an indication you recently had a stroke" or "you're at risk of having a heart attack", you need medication ASAP.

And you look at it and scratch your head, because all you see is a bunch of squiggly lines that you can't understand, and you feel perfectly fine right now, so you just ignore his advice and call him a witch doctor.

Fair.

The U.S. Dollar index squeezed out another tall green candle last night. And it just made a higher high on that monthly chart I shared. I think this isn't good for Silver.

There's a few catalysts I think that would spark a jump up in silver. Dollar dump, or an escalation in that other thing that's currently happening with the TWO U.S. aircraft carrier groups in the middle east.

Not exactly great things to hope for but it would definitely cause silver to move up quickly.

Probably a lot more so than relying on a chimpanzee with a fist full of darts..



But it's really important to understand what you're talking about first.

Money managers and stock trader's are 2 different people with different goals. The money manager that runs your 401k for example, he picks what they call a mixed basket of stocks. Sometimes those choices are influenced by someone else.. He doesn't use a chart to pick them, it's not his money, he doesn't care.. He just has to have a good representation of what's in the S&P or DOW or NASDAQ. You and I could just as easily pick these stocks. He doesn't care if you make a penny on it, or not, because he gets paid to manage the fund. If the market goes up, you clap and call him a genius, if it goes down you cry and he blames the market. Simple.

People that "trade" stocks for a living have a deeply vested interest in making money. Losing money is not an option for them.

A wise choice and sound advice.