Silver needs to clear ninety spot for breakout
The technical bull case for silver requires spot prices to clear $90 (or $80 on the SLV ETF) to confirm a definitive upward breakout and heal the chart.
The argument
The speaker argued that while silver's recent price action is constructive and has shaken out nervous longs, the metal is still leaking sideways out of a large triangle. Clearing the $90 spot level would move the price above the majority of its recent trading range and likely trigger a sharp move into new highs.
The thesis, stress-tested
✓ What validates it
- ✓Spot silver price breaks and holds above $90
- ✓SLV ETF rises above $80
▸ Risks discussed
- ▸Price could continue to leak sideways out of the apex of the triangle
- ▸Failure to clear the $90 spot level could keep the metal range-bound
Hear it yourself
"It's it's it's a positive development over the last five days, but in my mind, we have to clear this 80 level on s m SLV, which will, by the way, be around 90 on spot. So spot's trading at around 80 right now. Spot goes to about 90, SLV to 80."
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