Although unable to hold a 3% rally late last week, the silver price is still in good shape and investors just have to be patient, according to one market analyst.
David Smith, senior analyst at the Morgan Report, said that although silver fell sharply from its highs Friday, the price is still holding support at $18 an ounce. “It’s very common for attempts to push up through to resistance to fail the first time,” he said. “The silver price still managed to close above $18, which is a breakout on the descending triangle chart.”
