Silver Price Analysis
Wht's up silver bugs it's been a wild week in markets. Silver price strives to hold the key resistance of $32.40 plotted from the December 12 high. The asset trades above the 20-day Exponential Moving Average (EMA), which trades around $32.00, suggesting that the near-term trend is bullish. The 14-day Relative Strength Index (RSI) oscillates inside the 40.00-60.00 range, suggesting a sideways trend. Looking down, the upward-sloping trend line from the August 8 low of $26.45 will act as key support for the Silver price around $30.00. While, the February 14 high of $33.40 will be the key barrier. I looking at any weakness I have started to build a paper trade of SLV to sell covered calls against. I have added about 350 shares of SLV this week.
Silver Chart
Portfolio Update
Not a bad week considering stocks and crypto got crushed. My current assets are valued at $3,620.87 with a total acquisition cost of $3,027.65.
Asset Allocation Chart
Asset Holding by Product
