Look for silver to meet with some resistance in the very near term......but should break out over $40/oz in the coming weeks. UC should benefit as will most juniors with cash & production. UC is in an enviable position. Ivana
TOTALLY NORMAL SILVER MARKET GOES VERTICAL
After regaining nearly all the losses sustained in Wednesday’s big COMEX open raid overnight and finally clawing its way back above $34 early in Thursday’s COMEX session, silver has just gone vertical popping .50 to $34.50.
Look for resistance to slow silver’s advance at $34.50, but we expect both this level and $35 to fall shortly, and silver to challenge its major resistance level of $37.50 before the end of the year.
Gold is also strong this morning, but has yet to get back above the major $1730 cap the cartel held in place for several weeks prior to gold’s big gain on Monday, and quite interestingly, did not accompany silver’s vertical move to the upside: