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.
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.
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