Topic: Technical Resistance

2 chapters across the catalog

Jerome Powell's recent interest rate cuts are viewed as a political move that will ultimately drive gold and silver prices higher. Dr. Kirk Elliott explains that large banks like JP Morgan Chase are attempting to close massive short positions before silver breaks through its technical resistance level of $48. Once precious metals surpass these "ceilings," they are expected to enter uncharted territory with significant price jumps.

Silver is analyzed as reaching a critical technical resistance level of $32.50, with predictions that it could reach $50 per ounce by the end of the year. Dr. Kirk Elliott outlines three factors for a silver price explosion, including closing above 30 euros and the ratio of paper silver to physical silver. The current market volatility is attributed to the collapsing status of the petrodollar.