Silver 10 year graph

Here is the support line for Silver from 2008.  We're now at a crucial juncture.

Current Silver spot price is $26.97.  If this support line breaks, we're coming back possibly to the support line at $20 odd dollars which served as resistance previously in 2008.  Silver has to break solidly first above $29, the 50 day MA, then above $31.78, the 200 day moving average to draw people back in.  Until then it could either be a quick breakdown or a few months of range bound action.

Days like these...

I just got home and looking at the silver and gold charts make me bloody gloomy.  These are trying times indeed.  Patience is the key to everything.  The bull will always try to throw you off its back.  Just an example, during Gold's last bull market from 1971 to 1980, Gold rose 600% only to fall 50%.  That's enough to scare the heck out of anyone into buying gold.  That the bubble had popped, that it was the end of the golden bull.  Instead, Gold rose 850% percent after the 50% fall.  This brings me back to 2008 when Silver fell from $21 to as low as $8.  And Gold fell from $1000 to $750 even though it was brief.  It takes guts, conviction, and belief to go through these times.  I bought Silver all the way from ranges between $21 and $45.  Nothing has changed in the world to make me sell gold or silver.  In fact the financial system has become even more unstable.  Take advantage of the low prices and purchase gold and silver.  That's the takeaway message.

Gold looks like it is diverging from the market, perhaps it's the beginning of a big move.