Image Source: Pixabay
 

For years, silver played hopscotched with its trio of moving averages.
 

Over the past year, of course, the metal strapped on its SpaceX-approved rocket boosters and has roared to levels heretofore thought unimaginable.

Looking at the moving averages alone, hiding both the drawn objects and even the prices, you can see what an historic move this is.
 

As an owner of silver bullion, this is just peachy with me, but I’ve got to say, the current price level (that red bar) is in the ionosphere.
 

I’m happy to consider my holding period for my silver to be Forever (believe me, I’ve been tempted to dump it all at 30, then 40, then 50, and so forth), but I wouldn’t go near this thing on the long side. Oddly, a lot of latecomers are deciding to do just that, going “on in” with short-term calls. Truly playing with fire!

More By This Author: