Precious metals have been big winners in 2024.
While Gold may get all the headlines, Silver has performed pretty well too. And things may turn even more bullish if the Silver can breakout above important price resistance!
Today we look at a long-term “monthly” chart of the Silver ETF.
“The facts, Ma’am. Just the facts.” – Joe Friday
As you can see, the Silver ETF (SLV) formed an inverse head and shoulders, leading to a rally that further formed a nice cup-like pattern.
The top of the cup at (1) marks important resistance. If SLV can breakout here, the pattern suggests that there is plenty of upside.
Precious metals bulls might want to pay attention to what happens here. Could be big for Silver and Gold alike. Stay tuned!
$SLV Silver ETF “monthly” Price Chart
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The author may have a position in mentioned securities. 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.
