Silver consolidation precedes potential upside breakout
The guest argued that the recent consolidation in silver is a temporary test of investor patience rather than a breakdown of the long-term bullish thesis.
The argument
Despite recent price pullbacks that have shaken out latecomers, the technical structure has respected previous lows. A breakout above key resistance levels would signal that the correction is likely over and pave the way for a move higher.
The thesis, stress-tested
✓ What validates it
- ✓SLV crossing and holding above the 75 level
- ✓A large single-day upward price bar confirming a breakout
▸ Risks discussed
- ▸Prolonged consolidation testing investor resolve
- ▸Potential to break below key support levels if selling pressure resumes
Hear it yourself
"You know, starting at about October of last year, we had the market start to kinda peter out or or or or or or just kinda stall out. You know, the broad indices were stalling out. Now certain sectors like energy and materials were were powering higher, but the broad market, partly because tech was starting to to to stall out. Tech, you know, the big winner of the last bunch of years started to really struggle in in late last year. So the market kinda went sideways, so to speak. And then the war broke out, and, of course, we saw the broad market sell off."
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