Silver has SURGED through $19.80, and is setting its sights on $20/oz…
Silver has now jumped over 7%, Up $1 On the Day, and is Merely Pennies Away From $20/oz:
When silver lagged behind gold’s big move following BREXIT, we cautioned that silver had more overhead resistance to work though, and the cartel would like to see silver remain below $18 prior to Wednesday’s options expiration.
Well, July silver options expiration has come and gone, and silver has been unleashed.
With tonight’s breakaway move (we have a last of $19.33), silver is now up nearly $4 (25%!) for the month of June!
And has literally nearly climbed off it’s own 24 hour chart!
Once tonight’s momentum cools off look for at least a quick retest of $19 before silver moves on to the first real test in its newly confirmed bull market- psychological and technical resistance at $20/oz.
Like gold and the $1300 level, we wouldn’t be surprised to see silver take 3 taps before finally clearing $20 for good, at which point it will likely move rather quickly to the $26 level.
So much for the summer doldrums…