Will Silver Prices Breakout Above Falling Resistance?

Precious metals have been very bullish over the first half of 2024.

And in particular, Gold’s breakout to new highs came just when everyone thought $2000 was a lid on prices. Sometimes that’s how it works.

But even more important is the fact that Silver prices began to rally… and out-perform Gold. A little tip: Gold bulls LOVE it when Silver leads the way.

Okay, so today we look at a chart of the Silver ETF (SLV). We can see the big run up… followed by a consolidation of backing and filling. If SLV breaks out, good things will happen!

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$SLV Silver ETF Chart

Not much to add here. If SLV breaks out, it will open the door to a retest of the recent high. And this could push gold higher yet. Stay tuned!

slv silver etf price analysis buy signal chart

Twitter: @andrewnyquist

The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.