Monday, November 11, 2019

Make or Break for Silver Futures

We haven't been doing anything with precious, I mean besides gawping at palladium but silver has always held a special attraction. on both the long and short sides.
The percentage moves in silver derivatives tend to be larger than in gold and if the world ever returns to medieval tech/societal conditions, no electricity, roving bands of freebooters, you'll find it easier to by a barrel of flour from ye olde mill with junk silver coins than with shavings from your gold ingot stash, divisibility and all that.

Here's FinViz with the futures chart:


Should the price drop through the $16.75 - 17.00 area, being tested for the third time in three months, there doesn't appear to be any "price memory" to support the shiny stuff for another 10 or 15% to the downside.
December futures $16.780, down 0.043