Silver to $39.50: Up 9.4% Past 30 Days
Yesterday marked a significant milestone for precious metals investors: silver closed above $37.12, a level not seen since 2011. This breakthrough represents more than just another number — it’s the confirmation of a major technical breakout that Mike Maloney predicted months ago.
The “Slingshot Move” Unfolds
Back when silver was trading in the $33 range, Mike Maloney identified what he called a “slingshot move” pattern forming in the charts. His analysis suggested that once silver broke through key resistance levels, it would accelerate rapidly through multiple price points.
That’s exactly what we’ve witnessed. In recent weeks, silver has:
- Broken decisively through $34
- Smashed past $35 resistance
- Cleared $36 with momentum
- And now, closed above $37 for the first time in over a decade
Why $37.12 Changes Everything
The significance of this particular price point cannot be overstated. When we look back at the silver charts from 2011 — during the last major precious metals bull run — we see that $37 acted as a critical resistance level. While silver briefly touched $37.42 intraday in late 2011, it failed to close above $37, marking the end of that rally.
Yesterday’s close at $37.12 represents the first time in 13 years that silver has definitively broken and held above this psychological and technical barrier. According to Mike’s analysis, this changes the entire landscape for silver investors.
The Path Forward — $50 and Beyond
With $37 resistance cleared, Mike’s analysis reveals almost no significant resistance between current levels and $48 — creating an “air pocket” where prices could move rapidly.
However, Mike expects resistance at the $48-50 zone, where professional profit-taking and psychological barriers could trigger a healthy pullback before silver’s next leg higher.
Once silver successfully navigates the $50 level, Mike believes triple digits could come “pretty darn quickly” — based on the massive base that’s been building since 2011.
Positioning for the Move
With silver breaking 13-year resistance and entering a new technical phase, many investors are reviewing their precious metals allocations. If you’ve been waiting for confirmation of a major trend change, this breakout may be the signal you’ve been watching for.
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