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 --- A GOPHER-LIKE INTERFACE FOR HIVE BLOCKCHAIN ---

Weekly Silver Report - Consolidation

BY: @handofzara | CREATED: June 1, 2024, 10 p.m. | VOTES: 62 | PAYOUT: $6.01 | [ VOTE ]

[IMAGE: https://images.hive.blog/DQmUZN7ChKDPFy9NxNPC5Lm65yArF7UwiSCtiRmDTZBQDY7/image.png]

Last week, I reported that silver was in the process of a retest of the prior "break out" level at $30 per ounce. Weekly Silver Report - The Retest

Silver has had a great run to the upside breaking a multi-year Resistance level at $30 per ounce. It is not unusual after such a nice run for silver to take a rest and a retest. Silver remains in an UPTREND. An UPTREND is defined as a series of HIGHER HIGHS and HIGHER LOWS.

The old saying is Resistance becomes Support. So far the $30 per ounce level has acted as Support.
A new Resistance level has formed at the $32.50. A strong break above $32.50-$32.75 would signal another run to the upside. Contrarily, the Bears would have to break $26.25 and only put the silver market into NEUTRAL.

[IMAGE: https://images.hive.blog/DQmRkfqz8MNSmZosr7TcDq9jePfxG5QjWrKtDMsPrYWdkzA/image.png]
source:JM Bullion

The premium on American Silver Eagles is around $7 per ounce.

[IMAGE: https://images.hive.blog/DQmQodUC1rPZpmnzgxiUo6bFGLAJv9fzNRSEGwjVBScUqGs/image.png]

Peace Out and Stack On!

TAGS: [ #silvergoldstackers ] [ #leofinance ] [ #markets ] [ #money ] [ #silver ]

Replies

@ssg-community | June 2, 2024, 12:02 a.m. | Votes: 0 | [ VOTE ]

You received an upvote of 100% from Precious the Silver Mermaid!

Thank you for contributing more great content to the #SilverGoldStackers tag.
You have created a Precious Gem! https://images.hive.blog/DQmT7RQqkpjXrjR43HZgPkPghGxUYDHPu7A68diYnmgbB64/round_gem.png

@kerrislravenhill | June 2, 2024, 12:47 a.m. | Votes: 1 | [ VOTE ]

At least it closed above the $30 handle, which is still significant in maintaining the upside potential.

@bitcoinman | June 2, 2024, 2:48 a.m. | Votes: 1 | [ VOTE ]

I think it's likely going to be around the new floor here for a while unfortunately but would be great to see some action one way or the other 🤣 !BBH

@rafzat | June 2, 2024, 11:24 a.m. | Votes: 1 | [ VOTE ]

Looks like silver is about to have some correction
Maybe it’s the dumping season now

@hivebuzz | June 4, 2024, 4:35 p.m. | Votes: 2 | [ VOTE ]

Congratulations @handofzara! You received a personal badge!

https://images.hive.blog/70x70/https://hivebuzz.me/badges/birthday-7.pngHappy Hive Birthday! You are on the Hive blockchain for 7 years!

You can view your badges on your board and compare yourself to others in the Ranking

Check out our last posts:

Our Hive Power Delegations to the May PUM WinnersFeedback from the June Hive Power Up DayHive Power Up Month Challenge - May 2024 Winners List

@temileke | June 5, 2024, 4:07 p.m. | Votes: 0 | [ VOTE ]

I am still quite positive that silver will still definitely do quite well in the market

@lee1938 | June 5, 2024, 9:05 p.m. | Votes: 0 | [ VOTE ]

https://x.com/lee19389/status/1798461029753479199

hive #posh

@geneeverett | June 30, 2024, 11:57 a.m. | Votes: 1 | [ VOTE ]

Haven't seen ya around in a while. Hope all in well friend! !PIMP

@handofzara | July 1, 2024, 11:47 p.m. | Votes: 1 | [ VOTE ]

I appreciate you checking in on me. These past two months have been very hard. I will be back in the running soon. Again thanks for asking.

@geneeverett | March 19, 2025, 6:08 a.m. | Votes: 0 | [ VOTE ]

Sorry 2 year that.

Hoping things are getting better or hanging in there. Drop a line what u can old friend.

!PIMP

@geneeverett | March 19, 2025, 6:15 a.m. | Votes: 0 | [ VOTE ]

U can earn while you are away and it would add up. Talk to @buggedout about it. Delegate 5K and earn a little weekly dividend for when u come back regularly 👍

@geneeverett | May 19, 2025, 2:09 a.m. | Votes: 0 | [ VOTE ]

Hey bud. Just checking on ya. Hoping all is well!

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