Silver Price Forecast – Silver Markets Continue to Explode to the Upside
Silver markets have really turn things around of the last couple weeks, with Tuesday being a prime example. We shot straight up in the air and are at the very top of the range for the day as I record this. It looks to me as if the market is going to go looking towards the 200 day EMA at the very least, if not higher than that. It is also worth noting that silver had recently formed a bit of a double bottom underneath, and now it is possible that we are ready for a bigger move to reach towards the top of the overall consolidation. The overall top of the range at the moment is $25 and I really do not see anything to keep this from getting there. Yes, we will have the occasional pullback and of course silver can be quite volatile, but clearly you cannot be a seller of it now.
SILVER Video 29.12.21
On dips, I will be looking to buy small positions, because I do recognize that just how quickly this trade can get out in your hands if you are not careful. That being said, I do think that it is obvious that the buyers have taken control and short covering is adding to the momentum as well. Silver does occasionally, we get a huge short squeeze and then things settle back down again I think that is what is going on, but quite frankly the only thing that matters is that price is going up so there you go, that is how it is done.
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