CONDITION RED: Important Silver Threshold Line Broken… What Next??

by Steven St. Angelo, SRS Rocco:

The important silver threshold line was broken briefly last week and continues to bump up against it in early trading today. If the silver price closes above this threshold line by a significant margin, it could mean big trouble for the bullion banks who hold record silver short contracts.

I wrote about this in my article, WATCH OUT if Silver Breaks Through This Threshold Next Week. The important silver threshold line is the 50 (MA), or what is known as in technical terms, the 50 month moving average line. Because I used a 20 year monthly chart, the 50 (MA) line refers to the moving average in monthly terms. If the chart is shown in weeks, then its a weekly moving average… and if it is a daily chart, then it is a daily moving average.

Here is an updated 20 year silver chart which now shows a 50 (MA) of $20.35:

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