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

Not to mention filibusters.

Well, I don't want to get overly political here...

So I won't!

Forget about that noise for a moment for now let's look at and focus on the price action in Silver and the markets. We want to know where Silver is going.

Monday we saw the knee jerk reaction caused by the events that happened over the weekend. I told you about how that's mostly Short covering and reversing positions and then the Market realized it was the same old stuff as before and sold off again. The classic Pop and Fade.

I told you that if and when the market ever does get news that could potentially be actual good News for Silver and stocks that the knee jerk reaction would not be followed by a fade.

There's been more talk today of ending the war and ending tariffs and yada yada yada. Market sees that as good News that might actually be real this time. Wether it happens or not is another story.

So instead of that short covering turning into a fade It's triggering even more Short covering. Other trader's like myself will start to spot this, and other buyer's start to spot this, and see an opportunity to jump in and soon a squeeze starts to happen. So today instead of a fade we're seeing more up.

Could Silver go up for another day? Yes these things could typically last for about 3 days or more. It could turn into a rally. Could someone do something or say something completely crazy tomorrow and bring everything back down? Yes, this is the world we're living in ATM.

Are we still in a bubble? Yes. 40 Trillion debt? Yes. And all the other stuff. So nothing else has changed. We're still in trouble in the grand scheme of things. Let's see how long this little moment lasts.

There's a wall above at the 53 to 54 price level. It's technically called a wall but it's where all the carnage and damage happened last week. It's where the crater is, where the battle took place.

Let me back up. Remember when I said the candles will guide the way? And the Trifecta and forfecta? And perhaps an inflection occuring? Here's what all that meant. Just go back and read the riddle and it will make sense now.

That week we saw (on the chart candles) that the buyer's were trying to push the price up on Friday, Then Monday, then Tuesday (Trifecta) then again on Wednesday (forfecta or superfecta). With that much upward pressure usually there's a break in direction (are you looking for direction? Maybe this will be an inflection?)

Well we got the break on Thursday, unfortunately the break was to the downside. The selling pressure was too much and though the buyers were trying hard for 4 day's to get Silver back above $54, the dam literally broke on Thursday from all the selling pressure Silver kept falling. And it kept falling on Friday to $48.

I thought we would see a Black Monday if not for the manipulation over the weekend to turn things around on Monday we might surely have seen a continuation in selling.

So all that damage is done and is laying directly above our heads or Silver's head right now. And I don't know about you guy's but I doubt that this little bit of relief and euphoria about the midterm elections is going to be enough to push silver back above all that and above $54 again.

Well, the stock market is certainly going back down (waaaay back down) after yesterday's "irrational exuberance." I guess we'll see if silver follows suit, but I suspect you are right.