Verified Investing on $SLV (Nov 2, 2026)
Silver is bouncing off a key long-term trend line and 2011 support near $49.83; it could still drop toward $36.50, but it is due for a near-term technical bounce that could reach the 50% channel area around $60 to $61. The speaker likes this spot, would like it more if it falls further, and expects silver much higher long term.
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Also bouncing up on the chart is silver doing so pretty nicely up almost 3% today bouncing off of this declining trend line on the chart piercing the previous pivot high that occurred at $49.83 all the way back here in April of 2011.
So this is a very key long-term support level. Now, can silver go lower? Absolutely it can. Look at this parallel channel. You can see here on this parallel, we have the ability to go down, touch it around $36.50.
However, when we've unwound from $120 plus dollar of silver all the way back down here to a 2011 level, we could be due for a near-term technical bounce. one capable of taking us at least up here to the 50% area of the parallel channel right around $60 to $61 on the chart of silver.
I like this spot on silver. Matter of fact, if it keeps going lower, I'm just going to like it even more. That's how my mental uh uh framing is for this trade. It doesn't matter if it's 10, 20 years of this accumulation zone.
Eventually, silver is going to be going I feel much much higher on the charts.
What this channel has said about $SLV
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