On the last trading day of the year, the silver
price effortlessly rushed above the 61.8% trendline
below the median of the upward price channel
right at the point where it meets the trend line
from the September high only to retrace right back to this pivot point
. It was at the 50-dma
where the turnaround occurred but it was the first test and now we have a support from which another assault on the 50-dma
can be launched.
If you believe that inflation
is about to spill into the streets then you believe the silver
price will keep on rising.