SILVER IDEA UPDATED 2.0
So with the stock market selling off this has impacted the silver price, which has now dropped below 26.1/oz. The price will now head back down to major support, previous resistance of 221/OZ (and change). I would expect a very significant bounce off of this level after an healthy consolidation. We would then see a similiar reaction to what we saw back in march, april, may when the FED inevitably steps in with further "stimulus" to combat the second wave. Then I see silver bouncing around off of resistance and support levels before inevitably attempting to hit 550/OZ by 2024. This is not a target date, rather an indication that it took nearly three years for silver to bottom after 2011, therefore we should expect a similiar time frame to get back up there.
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