Silver Markets Technical Analysis
Silver markets have rallied again during the trading session on Wednesday as we continue to see the silver market show quite a bit of bullish behavior. At this point, if we can break above the $26 level, then it is likely that we could go even higher. At this point, we are a little stretched though, so do not be surprised if we pull back a bit. Nonetheless, this is a market that given enough time looks as if it wants to break out.
Looking at this chart, you can see that we had recently broken above the massive shooting star from a couple of days ago suggests that we are ready to go much higher. All things being equal, this is a market that I think will shoot towards the highs again, because quite frankly, the inflationary situation alone demands that metals continue to strengthen. Because of this, I think we have a situation where not only will silver be strong, but so will gold.
Speaking of gold, pay close attention to it because a lot of times it will “front run” silver, and therefore it can give you a bit of a “heads up” as to where we are going. The $25.50 level underneath should be supported, right along with the $25 level. Pullbacks at this point should be nice buying opportunities, as we are in the midst of a huge bullish flag.
Underneath, even if we do break down, I think there are so many support levels that it is going to be difficult to change the overall trend anytime soon. The market continues to be noisy, but that is typical for silver, so keep that in mind.
Silver Price Forecast Video 14.04.22
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