Precious metals have enjoyed a huge rally that has seen gold reach new all-time highs and silver reach new multi-year highs.
There are a lot of tailwinds working for gold and silver today… global warfare, geopolitical instability, and inflation.
Today we look at a long-term “monthly” chart of Silver futures to analyze the current rally and highlight where it might go next.
As you can see, Silver futures are trading at an important support/resistance line (support 10 years ago and resistance 5 years ago and today!).
This heavy resistance has kept silver from breaking out. Perhaps it won’t hold for much longer!
If/When Silver breaks out above this resistance, it’s Hi Yo Silver time! Stay tuned!!
Silver Futures “monthly” Price Chart
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The author may have a position in mentioned securities. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.