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

Gold and silver pretty much holding steady, maybe this is what the Democratic party does to the market winning the mid-term election? So the bankers along with everyone else buying PM again?

The markets appear to be relaxing a bit on this Monday, unclenching you could say, from last week's blood bath and battering. While Silver is still pushing up from $52 as if it's attempting to jack up the collapsed floor and debris fields left over at $53 from when the dam broke at $54 nearly 2 weeks ago.

It's really only the 2nd day Silver is attempting to get up through that $53 crater. It tried Thursday. Then on Friday Silver had that weird head scratcher phenomenon, where it disconnected from stock's and just held steady all day as the stock market sold off some more. Something to think about.

There are still what we call bag holder's stuck above $54. They stayed long or didn't get out in time when the floor gave out and Silver fell to $48. I could still see the line at $54 from the 4 straight day's the buyer's pushed against the seller's, before the seller's won.

So now as we watch the new buyer's approach the collapsed zone around $53 you'll see those bag holder's get their opportunity to get out again, close to breaking even.. So we could see this little ebb and flow, push and pull in the price action around $52/$53 for the next few days. That's just buyers coming up while seller's are coming down.

As long as it remains calm, orderly and peaceful you could even see Silver move up in price. But if at any moment the building starts to shake again and panic or fear resumes and the bag holder's along with everyone else decide that you know what? The heck with this I want out of here at any price!! Then expect another free fall in price.

For now there is a pause in the markets but remember that in my experience the last time there was the prospect of rate hikes the market went straight up for almost 2 months as the initial reaction. Followed by almost 2 months straight down. Followed by a pause. Followed by more down. Followed by a pause. Followed by more down. For 10 whole months.

So as of right now there's no reason to look at these pauses as anything more than a pause before resuming it's course.

Ah well, so much for momentum. The markets soared yesterday, but silver dropped a bit back to the ~$52 zone.

I got $52.19 as of this post.

Silver hasn't had any luck getting near $54 and it can barely stay above $53.

$53.78 was the high for the week before it sold off all the way back down to a low of $51.11 yesterday.

And that was because of the big "event" so apparently you already missed it my friend.

There's still that area of overhead supply, otherwise known as where the bag holders or sellers are all sitting at. That's around just below $54.

If you'd rather use SLV as your guide to what's happening instead of just hoping for some momentum, and using the useless retail charts of KITCO or APMEX, then that would be around the $48.50 price level on SLV. Or around $54 on Futures or COMEX price charts

That's the area to focus your attention on as far as a target for Silver to get above.

If it can't get above that then it's Down from here.

Looks like it's going to stay in the 50-59 dollar range, to me, for a very long time.
I'm happy to say I dumped most at $104; it's a good time for the kids to buy silver and maybe make some money 20 years from now..

Aaaaand looks like we'll be ending the week pretty close to that $48.80ish I guesstimated..

But I do think we go lower than that and quickly. I do have have my next targets in sight. And it's something I've analyzed for months. But never spoke about it here. Because why talk about what's going to happen once Silver loses $50 if Silver is still above $50?

So Until Silver loses $50 why worry about what happens after that?

Guess what? Silver lost $50... At least for now...
We could always pray, or hope, for peace, or for something?

Now we're talking :) numbers I mean :)

Start backing the truck up when spot hits around $43

You're absolutely right about arbitrary numbers. Humans get fixated on them. That's why the price never stops exactly on them. $50, $100, $40..... All nice round numbers we humans like to place our Buy and Sell orders or wishes around.

Silver never stopped exactly at $100 on the way Up or Down. The levels were $93, $97 then straight to $103-$!04, $111-$113, and eventually to all time high. And then back down Silver hit those same stops.

I know because I traded Silver around all of those levels, and what a blast it was!! The most exciting day for me was the big day when Silver was coming down from above $100.. It had lost a bunch of money already and then $97 gave way, and so I thought $93 support levels would surely hold right? So "I bought the dip" at around $94 before driving to the dentist.

That was the day of the crash, but none of us knew what was happening until after it was over.

By the time I got to the dentist (25 minutes?) Silver was in the $70's,

So what did I do? I bought more, dollar cost average of course

Why not? Those days were wild. Silver was moving around as much as $8 a day.

Over the next few days or a week it was back up in the $80's' I recovered some losses, and just kept on trading.. What a blast.. All those days I Bought and Sold all the way Up. And I bought and Sold all the way Down. I made some money, sometimes I lost some money, it was fun and the whole time I had a blast.

Then it ended. I stopped trading Silver, and everything else, the week in September right after Fed chair Warsh came on TV and announced he was raising interest rates to combat inflation. And Silver immediately did the herky jerky down then up move. A lot of weird stuff happened after that. Call it a Deja Vu of the last time I saw bad things happen in the market. In hindsight that was the final knife. Those were the death throws of Silver.

So $40 is just an arbitrary number. one that everyone is anticipating. First Silver goes to $48, then to $45, then to $43 before heading back up, maybe sooner? It won't get straight to $40 in one shot (unless something crazy happens) for the same reason it didn't go straight to $100 or to $50.

When Buyers and Sellers are all concentrated around those round arbitrary numbers they act like force fields. Like magnets when you turn them against each. Like a gravitational push and pull. Sometimes the first few attempts get repelled. Then when you build enough momentum to get through it just throws you right passed it.