Back on October 16th, I did a fifteen-minute video for my premium members about how enthusiastic I was about silver. In fact, I haven’t been able to shut up about this topic. Not to say that the past month of silver action hasn’t been silky smooth………
Indeed, it’s kind of a shame we sunk below that dashed green line, since that would have made a terribly clean bullish pattern. Mercifully, I caught the upside of that move above the green and managed to sidestep almost all the slop afterward.
Even though the chart above isn’t pristine by any stretch, I’ve decided to put my toe back into the silver waters and acquire 50% of my intended position with the stop-loss cited below. The Fed is doing its thing today, so who knows if that’ll be good or bad for SLV, but we’ll soon find out.
If the price level does indeed hold, we could be seeing a SLV price of nearly $40 based on this bullish setup.
