New resistance point broken - opinions

Little_Mountain

Little_Mountain

New Member
Greetings all,
I’m still relatively new to the forum, so forgive me if I’ve put this in the wrong sub.

I’m not a spot watcher, per se, as my theory since I started buying in 1993 is to “just buy.” That said, it is interesting to watch various key points as they occur.

Today (Wed, 10/21) saw silver break through a bit of a resistance point of $25 (USD). I’m curious about opinions on the board. Do you see this as a new support level, or just a bit of fluctuation? If so, why?

While the US is not the sole driver of spot, it is a major contributor. General chaos, election year vulnerability, and a pandemic have thrown most historic stochastics out the window, but I’m curious what folks think about breaking this new resistance level break through.
Cheers.
 
I'd personally like to see it another dollar or two higher for a time and hold that level.

I'm not a spot watcher either but it's all correlated still somewhat.

I do believe it's coming soon either way and silver will still keep going north in the long haul.
Anyway welcome to the forum, I'm a "just buy" stacker too haha. It's a good addiction to have!
I'm still buying and havent really stopped. Just to save some cash and catch my breathe from time to time haha.
 
I did cut back buying above $25 usd and I only purchased around 20 ounces between 26 and 29. A few silver dollars and some various one-off cool rounds.
I mostly saved cash during that time and made a big purchase when it dropped back to $25 and some gold the week before when it was $1800 something.
I felt pretty safe in both purchases in the long term.
I try to be patient when I can but then again the cash burns a hole in my pocket eventually. Plus it sucks to see grocery prices rising and not knowing for sure if things will cool down some or it's off to the races.
I'm glad it dropped a few bucks and I had the chance.
 
Pirocco said:
The 2020 silver price uptrend was a panic story caused by governments usage of a new virus as excuse to harm economy and society (yes they trigger booms AND busts, they wanna "vaporize" some of savers' money).
Panic trends are ALWAYS undone.
By those that didn't, dressing the panickers in bloodred tutu's.
Click to expand...
 
JohnnyBravo300 said:
I did cut back buying above $25 usd and I only purchased around 20 ounces between 26 and 29. A few silver dollars and some various one-off cool rounds.
Click to expand...

Not to worry, if Trump wins, you'll have lots of work which means extra cash to buy silver. In the long run, price will go up, just keep stacking!
 
That's what I like to hear! Weve been as busy as ever this summer and it's been a good stacking year for me.
It never gets old.
We are almost off for the winter and then I have 4 months off with half wages until we go back in the spring.
It's a nice rest from the crazy summer work and I get to hang out with my wife and dogs but I miss the overtime.
 
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