Silver Continues to See Buyers

I don't normally look at the price of silver during the week, but I had some free time so I went to the charts and was pleased to see that we still have a lot of buyers stepping up.

We have pushed through the $31 level! This push is likely due to the Federal Reserve cutting rates by 50 basis points, which has turbocharged the silver market, It's also charged a lot of other commodities too. We continue to see a lot of momentum to the the $31.50 level, but it will take a decent amount of buyers to break that level which would setup a nice move to the $32.50 level. I think we will see short term pullbacks that could be a nice buying opportunity if we cant sustain the $31.5 level. I want to think the $30 level will give us a nice support. If we were to break down below the $30 level, then we could very well see this market really drop, perhaps down to the 50 day EMA, maybe even the $28.50 level.

I have been itching to buy more coins as I read a lot of your posts. I had my eye on some Maples whcih have become my favorite coin at the moment. I just hate to pay above my cost basis which I know I'll have to do at some point.