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On July 31, 2025, with SLV (Silver ETF) trading at 33.27, this is what we discussed about my technical setup:SLV-- On the subject of tariffs, copper, and silver, Trump extended the tariff deal with Mexico for 90 days, which included steel and copper, but NO MENTION of Silver (so far). Let's notice on my attached 4-Hour chart of SLV that the week-long nosedive from 35.91 to this AM's low at 33.10 held right at the April-July support line, and is attempting to find a bottom in and around 33.00-33.20. SLV needs to recover and close above 33.
Bitcoin: Waiting In the last two weeks I've introduced the prospect of a top in place but as asked in last week's title, a top to what?That question still remains unanswered in what's been a mostly uneventful week in Bitcoin. To that effect, I have little to update from last week's post on the larger degree so I would suggest re-reading the article as it lays out a few different reasonable roadmaps for the upcoming weeks and months.
Silver has now taken out the resistance I noted over the weekend. Of course, this now opens silver up to starting its run to back to its all time highs. But it will clearly not be direct. For now, I am still going to give the (b) wave just a bit more room. But, if we take out this adjusted resistance box, then we are either in a big wave 1 of wave (3) or we are actually in wave 3 of (3). Both counts are quite reasonable if we are already breaking out. Therefore, the next buying opportunity I would look towards IF . .
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