Flirting with the $26 support level

[TreasurePirate69]

Well, for whatever reason, we are down 5% so far today. As of this writing we are at $26.23. I really didn't think we would get this low this fast. I figured we'd return to around $27 and hang there for at least a month. This would be consistent with the lower highs, lower lows pattern we have been seeing for the past year or more.

Will we break the dreaded $26 support level? If so, where do we go from there? $24?

 

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[Marchas45]

@TreasurePirate it sure goes down fast but never up fast. Hmmm I wonder why? Anyway, maybe my dream is coming true at $20 spot. I hope not but if it does, I'll Keep Stacking.

 

[TreasurePirate69]

Me too!

 

[jim4silver]

If $26 breaks and we go to $20 I probably will start playing the etf's unless physical is available at the usual premiums. I doubt it would be at $20 unless the decline was very slow and over time. Anything fast and the supply will dry up quickly at local coin stores.

Jim

 

[lost]

Playing Humpie-Dumpie with etf's is fun. Fun, but very risky and not for the impatient nervous investors. Never tried it with silver. At 20, hummm, not much room for a spread.

 

[TreasurePirate69]

I've done well with SLV over the years when silver was heading up. I'm not sure I have the courage to try it with silver heading in the downward direction. But $20 might be the magic number to get me to go ahead and buy a little SLV for the long haul.