Complementing the bullishness of Silver spot in the first few days of the new year, DSVMF attempted to cross the $1.80 mark, but fell below $1.50 following the ~10% silver selloff towards the end of the week. The ~$1.48-$1.51 range was fancied but quickly exited. In the second week of January, if Silver spot prices see a recovery, we'll see some resistance at $1.65 and hopefully we'll retest $1.80 again next week too.
The two farthest thick red lines highlight the strong secular trend we've been in since March 2020. A breakout above the $1.80 mark will be extremely bullish and after that it's possible we'll see a newer trend along the horizontal black $1.78 line, or the cyan line or, in the very bullish case, the upper-most red line. In a middle-of-nowhere case, I we might see a trend along the $1.65 horizontal.
In the bearish case, we're staring at the $1.38 mark.
The two farthest thick red lines highlight the strong secular trend we've been in since March 2020. A breakout above the $1.80 mark will be extremely bullish and after that it's possible we'll see a newer trend along the horizontal black $1.78 line, or the cyan line or, in the very bullish case, the upper-most red line. In a middle-of-nowhere case, I we might see a trend along the $1.65 horizontal.
In the bearish case, we're staring at the $1.38 mark.