by David Smith
Silver Seek
Two realistic price movement scenarios can see silver finally ascend through the magnetic $50 level in 2022. A case can be made that either – or perhaps both – have a strong likelihood of taking place.
First Scenario:
In December, silver moves up from a strong multiple-year base, with an impulse leg-driven First Quarter, punching through strong resistance and spiking into the low ‘$40’s before retreating to its breakout just above $30.
It builds a broad $15 sideways HSR (horizontal support-resistance) price box between $43 and $28.
Volume strengthens on up days, and lessens on down days, creating a descending technical triangle.