Head and Shoulders Top Pattern Forming in Silver
A bearish Head and Shoulders pattern is forming in the silver market. The pattern is confirmed once price breaches neckline support, which is at around $35.20.
Silver
Silver Reaches Fresh 13-Year Highs Amid Rising Safe Haven and Industrial Demand
Silver prices have surged to new 13-year highs, reaching levels not seen since February of 2012. The recent rally has been driven by various factors, including robust industrial demand, supply constraints, and heightened investor interest in safe-haven assets amid Middle East tensions.
What is Silver?
Silver is a naturally occurring element that can be found in your jewelry, at the dinner table, in your digital camera, in your car and in your pocket. It is a monetary metal with roots that run parallel to gold.
The Hunt Brothers and their Attempt to Corner the Silver Market
In the early seventies, amidst political upheaval, inflationary pressures and stagnant economic growth, the richest family in America (at the time), the Hunt family of Texas, tried to corner the market on precious metals.