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Moderator
 United States
188342 Posts |
Oh my!   |
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Moderator
United States
188342 Posts |
Looks like the ~$83 line is holding up for now. |
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Pillar of the Community
 United States
5850 Posts |
Quote:
Looks like the ~$83 line is holding up for now. You jinxed it, jbuck! All the back down to $80. Edited by barryg
05/14/2026 10:00 pm
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Pillar of the Community
United States
5850 Posts |
And now down to $78.  |
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Pillar of the Community
United States
5850 Posts |
Make that $77. No, $76...  Edited by barryg
05/15/2026 09:18 am
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Pillar of the Community
United States
1094 Posts |
Well  looks like Smackdown Friday started on Thursday this week   Though it isn't just Silver that's plunging, just about everything started selling off last night. So the Market's seem to be very upset about something or at somebody?  Silver cracked $83 last night, I should say it Smashed through $83. Not only that, but it took out the whole support and resistance Zone of $83/$82/$81 the whole sandwich went up in smoke "Don't cry for me Argentina" as the song went. Because fortunately for me I pulled the plug and jumped out of the plane yesterday right before my last post here. At 3:58 PM with only 2 minutes left on the clock. Silver was still flying over $84. Now we have to wait to see where it lands. Yesterday before the close I closed my longs and bought Puts. Not only that, but because I was selling spreads up higher in both SLV and GLD, that expire next month, (just in case this happened) now I get to keep most of the premium I collected. And if Silver stays here or goes lower I keep all of it. And my Puts should be worth almost twice what I paid for them when the market opens.. It's a little complicated but you can make money from Gold and Silver going up and also when it's going down.  |
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Pillar of the Community
United States
1094 Posts |
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Pillar of the Community
United States
5850 Posts |
Man, down to $75 to end the week. Fortunately, it can only go up from here next week, right?
Right?
*sigh*
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Valued Member
United States
473 Posts |
Edited by Vector Ze
05/15/2026 8:42 pm
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Pillar of the Community
United States
1094 Posts |
Quote:
Man, down to $75 to end the week. Fortunately, it can only go up from here next week, right? After that plunge one could assume that the worst is over however you have to look at how the Market's closed Friday. Silver hit support and skidded across the floor into the close. There wasn't any recovery, no bounce at all. I would feel better if Silver had bounced up a couple of bucks into the close, the way Gold did. The rest of the market indexes continued bleeding out after the close. No afternoon recovery in those either. So that indicates that the downward momentum was still in play, the selling wanted to continue. I would expect an initial gap Down in the overall Market when the futures open on Sunday. Silver is laying flat and lifeless, and directly on top of support right now, theres no buffer, so there's a higher probability that it could break through and fall a couple more bucks before we see that bounce. I can see Silver getting pulled down a few more bucks then bouncing by Monday and trying to get back over $76. I also can also imagine there will be a flurry of press releases and statements coming out Sunday night to pump the Market's back up. |
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Pillar of the Community
United States
1094 Posts |
Futures are down across the board, including Gold and Silver on Sunday night 9pm EST
The Asian markets opened in sell off mode with one of the Asian countries stock exchanges triggering a circuit breaker and halted trading due to a rapid 5% drop. I won't mention which country because it's irrelevant, this is just an indicator of what may be heading to the U.S. markets on Monday.
European Market's will open overnight around 5am EST and I expect they will pull down as well.
Silver has lost the $76 support, as was forecast based on Friday's close, and was in the $74 area as of this writing.
I still think we could see a couple more bucks lower to around the $72/$71 area before any hopes of a bounce..
As always things can change up or down at the drop of a dime but with the current downward momentum in play, even before the rest of the world opens for trading, the odds are that we'll see some more panic selling before buyer's will step in and buy the dip.
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Pillar of the Community
United States
5850 Posts |
Silver is back above $77 to start the week, so let's hope $75 really was the floor and it will continue to rise.
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Pillar of the Community
United States
1094 Posts |
Yeah it looks like we got the bounce this morning, before the open  I'm keeping an eye for a couple of day's for confirmation before I start dipping my toe back in. The overnight lows are the key to watch out for. As long as Silver doesn't go below that for the rest of the week. |
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Moderator
United States
188342 Posts |
I always choose the right time to take a long weekend, eh?  Now we start that slow climb to get back above $80? |
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Pillar of the Community
United States
1094 Posts |
Quote:
I can see Silver getting pulled down a few more bucks then bouncing by Monday and trying to get back over $76. Step 1 complete - check Quote:
I still think we could see a couple more bucks lower to around the $72/$71 area before any hopes of a bounce.. I haven't ruled this out yet.  Today feels like a short term bounce. Not feeling like a real bounce off of a bottom yet.. We'll see though |
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Posted 05/14/2026 4:56 pm
