Silver’s Speculative Blow-Off Is Still Unwinding

Stuck silver

Our silver consolidation logic after the great “puke” remains intact. The metal likely needs more time to digest the extreme moves seen over the past few months. Major support sits around $72, while strong resistance comes in at $92–96, everything in between is largely noise. Silver is currently trading below the 50-day moving average but remains well above the 100-day (~$70) and the 200-day (~$55). Note the short-term trend line coming in around the $80 area.