Identifying key zones and trendlines

Silver is back at precovid prices.

I think after the huge correction we had, most of the things are priced in or close too. Recession , lower industrial demand, flight for safety in the usd, but with this move almost ending (dxy topping at 112 or 120) and fed ready to declare official recession, where will silver bottem.

Before i discuss some points of interest.
We are at same prices precovid when oil was at 20$ barrel and allin systainable mining cost was somewhere around 15$ (10$ if you remove profit from all other metals mined at same time).

Now... what is the biggest cost in mining? Energy all those dosers, crane, plants they consume massive amount of oil. With prices now 6x higher precovid, i can only imagine what the cutrent aiSC would be, but i bet at under 16$ /oz most mines would just stop mining.

Also paper might be one thing, physical eagles arent available and the 22's where sold in 40 minuts, while the us has a obligation to provide enough silver for the demand. Eagleshave an insane premium, but even the cheapest coins premiums are creeping. A monsterbox precovid was 9k, same box at same spotprice is now 11,3k.

I think its fair to say, chances of silver getting sustained under 16$ is pritty small. Maybe a paper wick, but imo 16$ is the hard bottem.

Now points of interest.

There are two.
One is 18,5$ , crossing of blue trendline and red price action, fib level.

Other is 16,5$, crossing of green trendline and red price action, fib level

With the weekly and monthly closed at 18$, looks like first point is not going to hold. On the daily we can see a clear break and retest.

There is a bullish divergence on the daily but i think with the fed, dxy still some room left, there is a high probability we will hit the 2th point of interest. Ill be adding there. Even if it wicks lower, you probably wont find any silver just like in 2020, so no point in risking it.

16,5$ would be a excellent buy zone to add, i think from there, this will be just one massive 5y bullrun.