Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.
Is Silver Basing?
Spot silver continues to carve out a base-like formation for the past three weeks.
That said, however, to trigger the potential of the formation, the price structure must hurdle and sustain above 20.30/60 resistance, which will project upside targets of 21.20/50, and possibly 22.50/80 thereafter.
Only a break of today's low at 19.56 will weaken the pattern, while a decline that breaks 19.00 will wreck the base-like pattern altogether.