by Steve St. Angelo
When the U.S. market begins trading on Monday, the first day of June, it could be very interesting for the silver price. Why? Well, the silver price closed right at an important technical level on the last trading day of May. More importantly, the silver price closed just a few cents shy from the highs for the month. This could be very bullish for traders, depending on where silver trades during the Asian market on Sunday night.
According to Stockcharts.com, the silver price increased more than $3.50 in May, up a healthy 23%. I wrote about the technical levels for the silver price in my newest video, WARNING: Economic & Market Depression, Precious Metals Bull Market. On Thursday, May 28th, the silver price closed at $17.97. The chart below is a “Monthly Chart,” so the candlesticks represent one month of trading.