Silver Attacking Resistance Again
Silver is attacking the all important $19.51 to $20.18 resistance zone. This zone reflects the March 2008 and October 1980 swing high and is an important line in the sand that will be vigorously defended in the paper markets. The January 1980 high magnet of 38.25 will be pulling harder once this zone is breached.
As long as trend energy continues to step higher relative to price (that is, produce higher highs than previous readings at a similar price level), it’s only a matter of time before 19.51-20.18 resistance zone is breached to the upside.