Silver Price Prediction – Silver Markets Are Exploding

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Silver markets exploded higher in Wednesday’s trading session as the CPI numbers in America came out much stronger than expected. With inflation coming, it makes sense for precious metals to win. Silver of course also has the added benefit of being an industrial metal, which could also be involved. However, I like the idea of ​​being long in the silver market, as long as we can stay above the $ 25 level. The 200 day EMA is now at the $ 24.52 level, and I think it should continue to receive a lot of interest. Because of this, it is very likely that we will see a lot of noisy behavior in the short term, but in the end it looks like we are going to go higher.

SILVER Video 11.11.21

Based on the ‘inverted head and shoulders’ I see on the chart, it could mean that the silver is going all the way to the $ 28.50 region, but obviously it’s going to take a while to get there. . Ultimately, I think we have enough interest in this general neighborhood that we can start talking about the idea of ​​going long in this market on short term lows, because quite frankly it’s not. probably only a matter of time before we see some kind of boom in the commodities markets. This is probably going to be a recurring theme in the future, as commodity markets take off suddenly and without warning. On the downside, I think the $ 23 level now makes a good candidate for the “market bottom” going forward.


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