In recent weeks, I’ve presented many charts to illustrate why I am bullish on precious metals. Silver in particular has had a great couple of weeks, but I’d like you to take note of that dashed line.
That line, which is at 27.14 on SLV, represents an important price gap. The next test for SLV is to see whether or not it can muster its way past it.
I’m inclined to think it’s going to struggle, but I’m also inclined to think that longer term, it’ll eventually conquer that gap and more fully express the potential of the inverted head and shoulders base that SLV has hammered out.
