First things first. On the Daily Chart, silver is in an UPTREND. An UPTREND is defined as a series of HIGHER HIGHS and HIGHER LOWS.
So why is $30 dollars an ounce a big deal?
We will have to travel back in time on the Monthly Charts to July 2020 when the COMEX high in silver came in at $29.97 per ounce. Thus, it seems to these old eyes of mine that the target is $30 per ounce. But that is just me.
Now onto complete SPECULATION, which means this is not any sort of "investment advice" but rather the wild imagination of an old silver stacker and speculator.
If silver hits $30 per ounce I expect a pullback before a run to $50 per ounce. Anyway that is how I sees it.
source: JM Bullion
The premium on American Silver Eagles is creeping up just a tad and is over $6 per ounce.
Peace out and Stack On!