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

Or not, as the case may be.

*sigh*

$70 plus or minus some margin for error.

Support and Resistance Levels (aka Floors).

On the way down- the job for the bears (sellers) is to crack support and break through it. Once broken, even if the price manages to get back above support for the next few days or weeks, unless there's a move higher, the probability is that the floor will give way eventually and price drops to the next level.

On the way up- after hitting bottom and reversing to the upside, the job of the bulls (buyers) is to break through what is now resistance. Once broken above, even if the price falls through again for days or weeks, as long as there isn't a move lower, the probability is that resistance weakens and price gets above to a new support level.

Floor's aka Support and Resistance levels. It's not a thin line in the sand or definite number. It's a zone. Think of an Oreo cookie or I prefer ice cream sandwich. There's a hard layer on top and on the bottom with a soft creamy delicious filling in the middle. Yummy

Think of a floor in your house. You have the floor, the ceiling below, and the space in between, with all the beams, cables and insulation hidden inside.

Same with Support and Resistance. Look at the $93 support level in Silver as an example. $93 is the floor, $91 is the ceiling, $92 is the void or filling. Recently silver tried to get up through $91 repeatedly and unsuccessfully and eventually fell down to next support. Rinse and repeat.

Once price breaks above resistance, or ceiling, it's normal to chop around inside the Void or filling layer until it breaks above the support. And Vice versa.


Edit* Silver bottomed out and reversed yesterday at least for the time being.

I really don't know where you all get your information from BUT its really simple with Silver. The current cost to mine silver per ounce is between $10 to $25 (all in cost), in no way does a commodity product that costs about $25 is going to sell forever for $100 or even $70 long term. Just look at the price, for the last 5 years silver barely moved. The last time this happened was in the 1980's, in 2010 and in 2026, after each peak it eventually crashed. I'm all for the ride, the value of silver is insignificant to me, its just something I buy when the price is good and its pretty. When it comes back down to reality, I'll buy again. Right now I'm on the sidelines. I took my profit a little too early, but I'm ahead of the curve today. In 3-4 months we'll be talking about when silver hit $100. Silver has become the Game Stop of 2026.

Lets say you invested $100 in the U.S. stock market in 1965 (when the value of silver surpassed the value of spot in coins) today those shares would be worth over $42,000-$43,000 today, assuming dividends were reinvested. However, a $100 investment in Berkshire Hathaway stock in 1965 would now be worth over $2.4 million.

If in 1965 I had $100 in silver (about 77 ounces) today it would be worth $5390. Even at $120 an ounce silver would only be worth $9,240. The S&P 500 did much better than silver and Berkshire Hathaway did even better.

Yup. Play stupid games, win stupid prizes.

So much for that $70 floor...

I think I mentioned it before, but this feels like 2008 all over again. Back then, oil went to $150 and we had a mortgage debt crises. Now we have oil at $110 and a private credit crisis.

That is fair.