Silver – Weekly Analysis

After the annual close in January, I issued a stark alert: Silver was technically repeating the 1979 pattern. Whatever the climb, be prepared for a sharp pullback back into the two-digit range, which at the time I estimated between $60 and $40. Now, with Silver around $68, we will look strictly at the technicals and evaluate the next probable path, regardless of what the talking heads are saying as they search for excuses to explain their major miscalculations. In this weekly report, we examine Silver through its underlying technical forces, evolving risk profile, and key inflection points to determine whether the metal is preparing for a durable bottom, or whether the larger correction still has more work to do. CANDLES: Silver closed the week with controversial signals. Some silver instruments closed below the 200 DMA, while others remained above it, creating a mixed technical message. The weekly frame formed an…