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Pillar of the Community
 United States
5873 Posts |
And back above $89 in overnight trading.
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Pillar of the Community
United States
676 Posts |
Over $91 currently  |
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Pillar of the Community
United States
1134 Posts |
$93 was the prior brick wall of resistance, and right before that it was a floor of support. On the day it crashed $93 held for awhile (I even bought in some) until it gave way under all the selling pressure. Upward resistance starts at $91 and conversely downward support starts at $95.
Silver needs to get through $93 and hover around $95+ to confirm the move up. If it cuts through it like a knife through butter, then it could shoot up to the next support resistance range $103 to $108. Before falling back to retest $95 again. If it bumps up repeatedly against $92 and fails, watch out. That is the assignment.
For the trader's on here that can interpret charts and know what this means, and how to setup for it: Silver will either make a higher high this week or a double top.
It's been almost a month since silver tried to go through $91 and it was rejected, ultimately sending it back down to the $60's range. Until now.
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Moderator
 United States
190271 Posts |
Just slipped below $90. |
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Pillar of the Community
United States
1134 Posts |
I'll be looking to buy the dips to $86'ish with a tight stop at $84.50 because if that fails it could be back to $77 in a hurry.
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Pillar of the Community
United States
5873 Posts |
Quote:
Just slipped below $90. And, ten minutes later, it just crept back above $90. Gentle bobbing waves in the ocean... |
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Moderator
United States
190271 Posts |
Poked up above $90. |
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Pillar of the Community
United States
5873 Posts |
Quote:
Poked up above $90 You don't say!  |
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Pillar of the Community
United States
1134 Posts |
Bearish engulfing candlestick pattern forming on the U.S. Dollar Index = tailwind for metals. Exactly what I want to see in order to remain bullish on Silver. Still early in the day though. Mr. Market is still digesting. Deciding what the next face ripping move will be.  |
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Moderator
United States
190271 Posts |
Quote:You don't say! Timing is everything. Missed by seconds.  |
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Pillar of the Community
United States
5873 Posts |
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Bearish engulfing candlestick pattern forming on the U.S. Dollar Index OK, now you're just making up nonsense hoping none of us will notice, aren't you? What's next, the warthog subsuming lampshade pattern? |
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Moderator
United States
190271 Posts |
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Valued Member
United States
81 Posts |
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Pillar of the Community
United States
1134 Posts |
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OK, now you're just making up nonsense hoping none of us will notice, aren't you?
What's next, the warthog subsuming lampshade pattern? Aaahh yes, the weird irony in that statement does not escape me for a second  You wouldn't happen to be a boomer would ya?  Asking for a friend.. Joking, joking, no, no, that's an inside joke about a boomer coworker friend that comes to mind right now.. But I digress Umm. But no, "the making up nonsense hoping none of us will notice" part is a little more like when you look out the window and see it's a bright, sunny, beautiful day. But the weatherman on TV is pointing at this weird looking chart, and says some "nonsense" about "a strong, unstable, low pressure system headed this way". So you  and then you  but then you remember the "warthog lampshade pattern" and so hard that you throw your raincoat and umbrella back into the closet and leave the house... Only to get soaked to the bone in a torrential rainstorm later on. Something like that. |
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Pillar of the Community
United States
1134 Posts |
Mr. Market appears a little constipated today, probably needs a little more fiber to get things moving again...
The number to beat is $92.015, not there yet, and if it doesn't do it by end of regular trading, then it may just do it in the overnight.. Or not..
But it needs to break passed that, even if it opens tomorrow at $95 for example, and then flushes back to $90...
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Replies: 2,829 / Views: 91,907 |
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Posted 02/25/2026 12:58 am
