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3 일 전
Silver Rally Faces Key Resistance Near 50-Day Moving Average
By: Bruce Powers | April 14, 2025
🔸 Silver reached a new rally high of $32.39 as it continued to challenge a potential resistance zone represented by the 50-Day moving average.
Silver advanced to a slightly higher high of $32.39 on Monday and further tested a potential resistance zone first reached last Friday. The sharp rise observed last week occurred after a brief undercut of the higher swing low recorded in December. Support was seen at a low of $28.32 before buyers took back control, which led to a strong rally.
Strength was confirmed during the subsequent advance that continued throughout the week, with a reclaim of the 200-Day MA on Wednesday, now at $30.93, and a rise above another trendline on Friday. Furthermore, last Friday’s low of $30.92 tested support at the 200-Day MA before silver continued higher into a potential resistance zone.
Signs of Strength Remain
Friday’s advance to a high of $32.31 completed a 61.8% Fibonacci retracement at $32.19 and tested resistance at another trendline. The day ended at the high of the day and at the trendline but above the Fibonacci level. Signs of strength continued Monday, today, as silver traded in the top half of last Friday’s wide range day. It is on track to close strong, near the highs of the day and possibly above last week’s high. Therefore, a daily close above $32.31 will confirm the bull trend continuation signal.
Momentum Slows
Nevertheless, in the short-term silver may be extended as it challenges a key resistance zone. In particular, the 50-Day MA is at $32.51. It was a key trend indicator showing potential support until it failed on April 3, as silver fell sharply through the 20-Day MA, the 50-Day MA, and an uptrend line in one day. The decline was confirmed with a daily close below the trendline.
Prior support of the uptrend was successfully tested as resistance last Friday and then again today. Since silver has advanced by as much as $4.08 or 14.4% as of today’s high, bullish momentum may not be strong enough to reclaim the 50-Day MA and keep rising. A pullback or consolidation may come first. That was a relatively sharp advance in a short amount of time.
50-Day Line Challenges the Advance
However, if silver can reclaim the 50-Day line and then keep rising, the 20-Day MA could see signs of resistance, now at $32.66, and the 78.6% retracement is at $33.25. Either price level could see signs of resistance. A daily close above the 50-Day MA will show continued strength and improve the chance of siler continuing higher.
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4 일 전
Silver Continue to See Pressure From Below
By: Christopher Lewis | April 14, 2025
🔸 The silver market looks as if it is ready to continue going higher, but may need a little bit of a pullback in order to continue higher over the longer term. That being said, I am not interested in selling.
Silver Technical Analysis
Silver has been back and forth in the early hours on Monday as we try to figure out where we’re going next. Quite frankly, I do think silver is going to play a little bit of catch up with the gold market, but it’s also worth noting that gold is overbought as well. A short-term pullback would make a certain amount of sense, with the 200 day EMA sitting below, near the $31 level. I think that sets up as a nice opportunity to get moving for those who may have missed the bounce that we’ve seen over the last several sessions.
The US dollar is a little oversold at this point, so that could be the main culprit for silver pulling back. But also keep in mind that the silver market is not just a precious metals market, but it’s also an industrial one. This will be affected by the idea, or at least the perception, that perhaps global growth is slowing down, and if that is, in fact, the case, then you’re going to have an issue where while silver may climb, it may not climb as much as gold.
All things being equal, though, it does look like we are in the midst of trying to recover, and I would postulate that a lot of the selling a couple of weeks ago in both silver and gold had a lot to do with the idea that it was forced liquidations. What I mean by that is a lot of hedge funds were highly levered to various markets and when everything started falling apart, they had to sell the markets that they had the most gains in, in order to cover margin calls and other assets.
So silver was a victim of this. Well, certainly gold was. So one would think that one movement leads to the other. I am bullish on silver, but I do think eventually, we try to get back to the $35 level. I just don’t think it will be as aggressive as some people wish, and probably not as aggressive as it had been on the way down.
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6 일 전
NY Silver COMEX Futures »» Weekly Summary Analysis
By: Marty Armstrong | April 12, 2025
NY Silver COMEX Futures closed today at 31910 and is trading up about 9.12% for the year from last year's settlement of 29242. Currently, this market has been rising for 13 months going into April suggesting that this has been a bull market trend on the monthly time level which has been confirmed by electing all of our model's long-term Bullish Reversals from the key low. As we stand right now, this market has made a new low breaking beneath the previous month's low reaching thus far 27545 yet it is trading below last month's close of 34611.
ECONOMIC CONFIDENCE MODEL CORRELATION
Here in NY Silver COMEX Futures, we do find that this particular market has correlated with our Economic Confidence Model in the past. The Last turning point on the ECM cycle low to line up with this market was 2020 and 2015 and 2001. The Last turning point on the ECM cycle high to line up with this market was 2024 and 2011 and 1998.
MARKET OVERVIEW
NEAR-TERM OUTLOOK
The NY Silver COMEX Futures has continued to make new historical highs over the course of the rally from 2020 moving into 2025. Distinctly, we have elected four Bullish Reversals to date.
This market remains in a positive position on the weekly to yearly levels of our indicating models. Pay attention to the Monthly level for any serious change in long-term trend ahead.
Focusing on our perspective using the indicating ranges on the Daily level in the NY Silver COMEX Futures, this market remains moderately bearish position at this time with the overhead resistance beginning at 32045 and support forming below at 30520. The market is trading closer to the resistance level at this time.
On the weekly level, the last important high was established the week of March 24th at 35495, which was up 14 weeks from the low made back during the week of December 16th. Afterwards, the market bounced for 14 weeks reaching a high during the week of March 24th at 35495. Since that high, we have been generally trading down for the past 2 weeks, which has been a very dramatic move of 22.39% in a stark panic type decline.
When we look deeply into the underlying tone of this immediate market, we see it is currently still in a semi neutral posture despite declining from the previous high at 35495 made 2 weeks ago. Still, this market is within our trading envelope which spans between 28126 and 36656. Immediately, this decline from the last high established the week of March 24th has been important, closing sharply lower as well. Before, this recent rally exceeded the previous high of 34240 made back during the week of February 10th. That high was likewise part of a bullish trend making higher highs over the week of December 9th. This decline has been rather important penetrating the previous low formed at 29145 yet the market closed above it just cleaning out the stops. This does not yet imply a shift in trend. We need to close below the previous low just technically to raise that possibility. Right now, the market is below momentum on our weekly models casting a bearish cloud over the price action as well as trend, long-term trend, and cyclical strength. Looking at this from a wider perspective, this market has been trading up for the past 4 weeks overall.
INTERMEDIATE-TERM OUTLOOK
YEARLY MOMENTUM MODEL INDICATOR
Our Momentum Models are rising at this time with the previous low made 2023 while the last high formed on 2024. However, this market has rallied in price with the last cyclical high formed on 2024 warning that this market remains strong at this time on a correlation perspective as it has moved higher with the Momentum Model.
Interestingly, the NY Silver COMEX Futures has been in a bullish phase for the past 17 months since the low established back in October 2023.
Critical support still underlies this market at 30344 and a break of that level on a monthly closing basis would warn that a sustainable decline ahead becomes possible. Nevertheless, the market is trading below last month's low warning of weakness at this time.
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1 주 전
Silver Silver’s 18% Drop Threatens Bullish Trend Structure
By: Bruce Powers | April 7, 2025
• Silver's sharp breakdown from a rising wedge led to an 18% drop, breaching key support levels and raising the risk of a bearish trend reversal.
Silver broke down from a rising bearish wedge last Thursday and fell hard. It reached a low of $28.32 on Monday before there were signs of support leading to an intraday rally. At the low, the price of silver was down by $6.27 or 18.1% from the recent trend high of $34.58 in only six days.
The decline undercut a prior interim swing low of $28.75 from December thereby triggering a potential trend reversal signal as that swing low is part of the price structure of an uptrend of higher swing lows and higher swing highs. However, until there is a daily close below that low, the breakdown and potential bearish reversal is not confirmed.
Significant Selling Pressure as Multiple Support Levels Fail
During the decline there were several key potential support levels that failed, starting with a drop below the 20-Day MA last Thursday. Subsequently, a sharp decline below the 50-Day MA, two uptrend lines, and the 200-Day MA followed over the subsequent two days, including today. As discussed last week, there is the potential for an eventual test of support around the next lower trendline, since the two previous uptrend lines have failed, along with the long-term 200-Day MA trend indicator.
Rising Channel Suggest Further Downside
Since the 2022 bottom, the price of silver has been rising, and formed a large parallel trend channel. The current bearish correction shows a spike in volatility during a rapid decline to a 30-week low, reached today. Regardless of whether the lower trendline is eventually reached, the spike in volatility increases the chance that it might be.
Therefore, if silver rallies from Monday’s lows, it can be expected to eventually find resistance and turn back down. If for no other reason than there has been only one downswing so far. Given the wide price range of the past few days, potential upside for a rally also shows a wide potential price range. Support was seen today around the 78.6% Fibonacci retracement level at $28.21. That is close enough to the low to consider it as completed.
Initial Support Could Hold for a Rally
Monday’s high was $30.82, which essentially was a test of resistance around the 200-Day MA. That is also a bearish sign as resistance was confirmed around prior support. Nonetheless, the 200-Day MA is at $30.89, and it marks a potential resistance area during a bounce. Watch that price area along with the previous interim higher swing low at $30.81.
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2 주 전
NY Silver COMEX Futures »» Weekly Summary Analysis
By: Marty Armstrong | April 5, 2025
The NY Silver COMEX Futures closing today at 29230 is immediately trading down about 0.04% for the year from last year's settlement of 29242. Currently, this market has been rising for 13 months going into April suggesting that this has been a bull market trend on the monthly time level which has been confirmed by electing all of our model's long-term Bullish Reversals from the key low. As we stand right now, this market has made a new low breaking beneath the previous month's low reaching thus far 29115 while it's even trading beneath last month's low of 31635.
ECONOMIC CONFIDENCE MODEL CORRELATION
Here in NY Silver COMEX Futures, we do find that this particular market has correlated with our Economic Confidence Model in the past. The Last turning point on the ECM cycle low to line up with this market was 2020 and 2015 and 2001. The Last turning point on the ECM cycle high to line up with this market was 2024 and 2011 and 1998.
MARKET OVERVIEW
NEAR-TERM OUTLOOK
The NY Silver COMEX Futures has continued to make new historical highs over the course of the rally from 2020 moving into 2025. Clearly, we have elected four Bullish Reversals to date. Currently, the market has dropped back and is trading beneath the previous year's close warning of a potential correction in play.
This market remains in a positive position on the weekly to yearly levels of our indicating models. Pay attention to the Monthly level for any serious change in long-term trend ahead.
Focusing on our perspective using the indicating ranges on the Daily level in the NY Silver COMEX Futures, this market remains in a bearish position at this time with the overhead resistance beginning at 31765.
On the weekly level, the last important high was established the week of March 24th at 35495, which was up 14 weeks from the low made back during the week of December 16th. Afterwards, the market bounced for 14 weeks reaching a high during the week of March 24th at 35495. Since that high, we have been generally trading down for the past week, which has been a very dramatic move of 17.97% in a stark panic type decline.
When we look deeply into the underlying tone of this immediate market, we see it is currently still in a semi neutral posture despite declining from the previous high at 35495 made 1 week ago. Still, this market is within our trading envelope which spans between 28086 and 36604. Immediately, this decline from the last high established the week of March 24th has been important, closing sharply lower as well. Before, this recent rally exceeded the previous high of 34240 made back during the week of February 10th. That high was likewise part of a bullish trend making higher highs over the week of December 9th. This decline has been rather important penetrating the previous low formed at 29145 yet the market closed above it just cleaning out the stops. This does not yet imply a shift in trend. We need to close below the previous low just technically to raise that possibility. Right now, the market is below momentum on our weekly models casting a bearish cloud over the price action. From a pointed viewpoint, this market has been trading down for the past week and it finished in a weak position right now warning we need to pay attention.
INTERMEDIATE-TERM OUTLOOK
YEARLY MOMENTUM MODEL INDICATOR
Our Momentum Models are rising at this time with the previous low made 2023 while the last high formed on 2024. However, this market has rallied in price with the last cyclical high formed on 2024 warning that this market remains strong at this time on a correlation perspective as it has moved higher with the Momentum Model.
Interestingly, the NY Silver COMEX Futures has been in a bullish phase for the past 17 months since the low established back in October 2023.
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2 주 전
Silver Plunges Again on Friday
By: Christopher Lewis | April 4, 2025
• The silver market has seen a lot of early selling pressures on Friday, as the market continues to scramble to protect themselves from the tariff wars and the potential global recession.
Silver Markets Technical Analysis
The silver market initially tried to rally a bit but then dropped towards the 200 day EMA. The question now is whether or not it will hold. This is just below the $31 level and quite frankly, the absolute destruction and dismantling of the silver market over the last couple of days has been quite breathtaking to watch. So, with that being said, I certainly wouldn’t be a buyer of silver. I still don’t know if I want to short it.
I think chasing it all the way down here is probably a great way to lose money as well. So, with this being the case, I think you have a situation where traders will probably look for a couple of days of stability before trying to get long. If we close below the 200 day EMA, technically, that kicks off a potential downtrend and it could drop silver down to $28.75. We’ll just have to wait and see.
The world is basically chaotic at the moment when it comes to trading, and the best trade often is to either trade in a very minuscule position or don’t trade at all. Silver is definitely in that category right now as the volatility has picked up so drastically. Silver, when it comes to precious metals, falls much quicker than gold. So, when precious metals do sell off, it’s generally silver I short, not gold. On the way up, I generally buy gold, although silver can give you better returns because of the volatility, it’s also all over the place most of the time.
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2 주 전
Silver Gets Absolutely Crushed After Tariffs
By: Christopher Lewis | April 3, 2025
• The silver market has been crushed in the early hours of Thursday, as the market continues to react to the tariff situation in the US. The announcement has sent traders scrambling around the world to reposition, sending silver down over 5% before New York opens.
Silver Markets Technical Analysis
The silver market has been absolutely pummeled during the trading session on Thursday as we continue to see a lot of trouble out there when it comes to concerns about global growth. And it is worth noting that silver of course is an industrial metal, right along with precious metal. So, keep in mind that a lot of traders will look at this through the prism of whether or not their demand will pick up.
We are still technically in a bullish trend, but losing 5%, almost 6 % before New York even gets on board is something to pay attention to and I suspect that you’re probably going to be better off waiting to see if it can bounce and if and if when it does then fine, you can take advantage of that. That being said, market participants will have to be very cautious trying to play some type of bounce. It is going to be a situation where we need to hold the 200 day EMA, and we may test that very quickly.
If we break down below the 200 day EMA, then this market could be in serious trouble. Silver is definitely more apt to fall quicker than gold. So, keep that in mind. And with that, I think you have to be aware of the fact that if metals really start to unwind, silver will lose much more quickly than gold. In fact, gold’s down about 2.2 % as I record this, and of course, silver is down 5.8%. So, on the way down, silver is the one you want to short, but on the way up, it can be a great buy. But always remember that it tends to move with gold, but it tends to have a more outsized move.
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2 주 전
Silver Continues to See Volatile and Bullish Momentum
By: Christopher Lewis | April 1, 2025
• The silver market is a bit noisy in the early hours of Tuesday again, as we continue to see a lot of questions asked of where the economy is going. Remember, this is a market that is very dangerous at this point in time.
Silver Markets Technical Analysis
Silver has gone back and forth during the course of the trading session on Tuesday in the early hours as we continue to try to fight our way higher. All things being equal, the $35 level, of course, is an area that we will continue to pay close attention to as the market has been so noisy that given enough time, I think eventually we have buyers come back in and try to push. But the question is, will the $33.33 level hold? At this point, it would seem so.
I do think at this point in time, a bounce from here is very likely, but if we were to break down below there, then the 50 day EMA underneath is the next major support level. Silver, of course, is being dragged higher by gold overall. And of course, we have to worry about the questions when it comes to whether or not the economy is slowing down or whether or not global trade will continue to slow down.
After all, we have seen a lot of headline risk out there, and that just causes chaos in markets like silver, which of course is extraordinarily volatile under the best of times anyway. Ultimately, I think this is a scenario where you’re looking at dips and potential buying opportunities, but you have to be very cautious with your position signs because silver can really punish you when you’re wrong about the direction of the market, and the overall risk appetite of traders.
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2 주 전
Silver Pulls Back After Reaching Highest Weekly Close Since 2012
By: Bruce Powers | March 31, 2025
• Silver’s short-term pullback from resistance suggests consolidation. If support at $33.35 holds, the uptrend from February may continue toward higher resistance levels.
Silver dropped to a low of $33.51 on Monday and will establish a lower daily high and lower daily low. The low price for today was a four-day low. That is a sign of weakness as support was not found at either of the prior day lows, and not until the four-day low of $33.51 was breached. At the time of this writing silver is trading in an uncertain position around the middle of the day’s trading range and above the lows of the previous three days. Last Friday’s low was $33.93, and today’s high was $34.47.
Indicator Confluence Marked Resistance
Notice on the chart that last week’s new near-term trend high of $33.59 found resistance at the confluence of several indicators. They include the completion of a 100% target for a rising ABCD pattern at $34.51, and two trendlines that mark the top of rising parallel trend channels. There is a larger uptrend that begins from the August 2022 lows and a shorter advance starting from the December lows.
It can be argued that one of the top channel lines may not be in the perfect location. But the fact that the two lines converged around the same price at the time that silver was approaching, and then resistance was seen, followed by a one-day bearish reversal today, shows why confluence can be so useful.
Behavior Around 20-Day Moving Average Should Provide Clues
Since the 20-Day MA was reclaimed on March 11 there has been only one dip to test is at as support. That happened on March 21, and it established a higher swing low. Since resistance has been seen from a high of $34.59, a successful test of support at or above the 20-Day MA, now at $33.35, seems possible. If price is rejected from the area around the 20-Day line, it would be bullish for the short-term uptrend that starts from the late-February higher swing low (C).
That swing low found support around the 50-Day MA. If this or a similar scenario unfolds then silver may continue to challenge highs and resistance around the top channel lines. Whether that could lead to a sustainable advance or not remains to be seen. It is important to add that silver ended last week at its highest weekly closing price since October 2012. This is consistent with the bullish long-term patterns in the price of silver.
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2 주 전
Silver Market Update - Upside Slingshot Move In Prospect...
By: Clive Maund | March 30, 2025
Silver has made modest and hesitant gains compared to gold in the recent past. There are two reasons for this. One is that, unlike gold which is at clear new highs, silver is still working its way through considerable overhanging supply which exists all the way up to its 2011 highs at $50. The other is that there is still very little speculative interest in the Precious Metals as made clear by the silver to gold ratio that we will look at lower down the page which means that this new sector bull market is still in its infancy.
On its latest 7-year chart we can see that, having broken out of the Head-and-Shoulders continuation pattern shown last year, which constitutes the Handle of a much larger Cup & Handle base shown on our long-term chart, silver has struggled to make further progress as it has battled its way through more overhanging supply and is only modestly overbought at this time as a result. Gold on the other hand is well in the clear. This lacklustre performance by silver relative to gold is actually normal in the early stages of a major sector bull market and it denotes a lack of speculative interest which is what you want to see as it means that the sector has much greater gains ahead of it. However, the giant Bowl boundary, which is now rising steeply, is coming into play and strictly limiting downside and looks set to slingshot silver higher soon.
Zooming out, the chart that goes back to the start of the millenium, i.e. to the year 2000, shows the great 2000’s bull market that peaked in 2011 in its entirety, and the bear market that followed with a gigantic Cup & Handle base that the price only broke out of last year. On this chart we can see the origins of the resistance that the price is having to battle its way through that was mentioned in the paragraph above, which is the trading on the way up to the highs, especially in late 2011 and 2012. Clearly, a breakout above the 2011 high at $50 will be a “Big Deal” and once that happens we can expect to see dramatic upside acceleration.
As it is so important, the following paragraph about the silver to gold ratio that appears in the parallel Gold Market update is repeated here for convenience…
Alright, so how much speculative froth is there in this market? – after all, you might expect some given how much gold has risen over the past year, right? - but the answer is that there is none, zero, nada – the retail investor is not involved in the PM sector at all yet – they are still trying to make money in the crypto market or in Tech stocks like Nvidia. How do we know there is no speculative interest? - simple - from the silver to gold ratio. Take a look at the following chart for the silver to gold ratio, also from the year 2000 and you will see that it is still at levels that we associate with major sector lows!! It is even below the reading it was at ahead of the great 2000’s PM sector bull market and at the 2008 market crash lows when the sector got taken down with everything else. The only time it got significantly lower than where it is now was during the orchestrated Covid mass psychosis event of the Spring of 2020 when the masses thought that the world was coming to an end. What does this mean? – it means that the upside for the sector from here is massive – this thing has barely gotten started yet.
Lastly, we will look at recent action in silver in more detail on its 1-year chart. While we could see some reaction back near-term from the resistance approaching the October highs, this is overall a very positive chart with moving averages in decidedly bullish alignment and gold markedly outperforming silver in the recent past which is bullish for both metals, so any reaction will be viewed as a buying opportunity for silver and silver stocks. Once it does get above the October highs it should press ahead to challenge the resistance towards the all-time highs at $50 in 2011 and once it clears this final hurdle we are likely to see dramatic acceleration to the upside and all this could happen very fast if the situation in the Mid-East rapidly deteriorates.
In closing I want to draw your attention to a recent 18 minute 33 second video by Mike Maloney about silver entitled The Big SILVER Short that includes some interesting very long-term charts and whose importance is elevated even further by the fact that he mentions me.
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3 주 전
Finding your Safe Haven! Manic Metals Report
By: Phil Flynn | March 31, 2025
Have you found your safe space? Treasury bonds and gold are soaring this morning as traders tried to seek safety in a world that has become nervous about the possibilities of war and sanctions,
A significant drop in Asian stock markets led to a decline in copper prices, despite rising long-term demand and tightening supplies.
China’s manufacturing activity expanded at the fastest pace in a year, with the purchasing manager index rising to 50.5% from 50.2%, the highest since March 2024. However, the Nikkei index fell by about 4%, and the Hang Seng index decreased by 1.31%.
Reuters reported that gold prices surged above $3,100 per ounce on Monday to a record high, as worries about potential inflation due to U.S. tariffs set the safe-haven asset up for its strongest quarter since 1986. Bullion continued its remarkable rally that has already seen the metal gain around 18% so far this year.
This comes against the backdrop of major central bank buying in people buying gold like crazy unlike anything we’ve seen since the gold rush of the 1980s.
The outlook for copper demand continues to look optimistic as it’s demand could double by 2040 due to large scale deployment of artificial intelligence and grid upgrades we have said for some time that we believed that the copper prices could double from here mainly because there is a structural shortage on the market copper prices continued to need to go higher to inspire the type of production that’s going to be needed.
Reuters reported that Chile’s Codelco (COBRE.UL), the world’s largest copper producer, has been redirecting some of its spot sales to the United States, CEO Ruben Alvarado said on Friday.
U.S. President Donald Trump in February ordered a probe into potential new tariffs on copper imports in an effort to rebuild U.S. production, a move that appeared to prompt a rush for copper. Alvarado also said he did not see any reason for copper to be subject to a sanction or tariffs, and anticipated strong long-term fundamentals for copper demand beyond short-term swings.
Silver’s market action remains disappointing despite being undervalued compared to gold. Richard Ebel noted that in 1980, silver was 3.5% of gold’s price, whereas today it is only 1.3%. If silver hits 3.5% again, its value will rise sharply. Currently, silver is considered the cheapest asset on Earth, but this won’t last forever.
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3 주 전
NY Silver COMEX Futures »» Weekly Summary Analysis
By: Marty Armstrong | March 29, 2025
NY Silver COMEX Futures closed today at 34814 and is trading up about 19% for the year from last year's settlement of 29242. Caution is required for this market is starting to suggest it could now decline on the MONTHLY level. This price action here in March is suggesting that this has been a bear market trend on the monthly level. As we stand right now, this market has made a new high exceeding the previous month's high reaching thus far 35495 intraday and is still trading above that high of 34240.
ECONOMIC CONFIDENCE MODEL CORRELATION
Here in NY Silver COMEX Futures, we do find that this particular market has correlated with our Economic Confidence Model in the past. The Last turning point on the ECM cycle low to line up with this market was 2020 and 2015 and 2001. The Last turning point on the ECM cycle high to line up with this market was 2024 and 2011 and 1998.
MARKET OVERVIEW
NEAR-TERM OUTLOOK
The NY Silver COMEX Futures has continued to make new historical highs over the course of the rally from 2020 moving into 2025. Distinctly, we have elected four Bullish Reversals to date.
This market remains in a positive position on the weekly to yearly levels of our indicating models. Pay attention to the Monthly level for any serious change in long-term trend ahead.
Focusing on our perspective using the indicating ranges on the Daily level in the NY Silver COMEX Futures, this market remains in a bullish position at this time with the underlying support beginning at 34365.
On the weekly level, the last important high was established the week of March 24th at 35495, which was up 14 weeks from the low made back during the week of December 16th. So far, this week is trading within last week's range of 35495 to 33380. Nevertheless, the market is still trading upward more toward resistance than support. A closing beneath last week's low would be a technical signal for a correction to retest support.
When we look deeply into the underlying tone of this immediate market, we see it is currently still in a semi neutral posture despite declining from the previous high at 35495 made 0 week ago. Still, this market is within our trading envelope which spans between 29438 and 35380. The broader perspective, this current rally into the week of March 24th reaching 35495 has exceeded the previous high of 34240 made back during the week of February 10th.
Right now, the market is above momentum on our weekly models hinting this is still bullish for now as well as trend, long-term trend, and cyclical strength. Looking at this from a wider perspective, this market has been trading up for the past 4 weeks overall.
INTERMEDIATE-TERM OUTLOOK
YEARLY MOMENTUM MODEL INDICATOR
Our Momentum Models are rising at this time with the previous low made 2023 while the last high formed on 2024. However, this market has rallied in price with the last cyclical high formed on 2024 warning that this market remains strong at this time on a correlation perspective as it has moved higher with the Momentum Model.
Looking at the longer-term monthly level, we did see that the market made a high in October 2024 at 35070. After a twelve month rally from the previous low of 30345, it made last high in October. Since this last high, the market has corrected for twelve months. However, this market has held important support last month. So far here in March, this market has held above last month's low of 31365 reaching 31635.
Critical support still underlies this market at 27440 and a break of that level on a monthly closing basis would warn that a sustainable decline ahead becomes possible. Nevertheless, the market is trading above last month's high showing some strength.
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3 주 전
Precious Moments. Manic Metals Report
By: Phil Flynn | March 28, 2025
The precious metals market are creating precious moments in the type of moves that you might be able to tell your grandchildren about we could be embarking from one of the most historic times across the metals space it’s a combination of central bank buying of gold and explosive demand growth for industrial metals as we embark on a new economy powered by artificial intelligence and huge data centers the demand for electricity as well as components for the artificial intelligence economy of the future. is creating one of the most intriguing times to invest in metals in recent history.
We probably haven’t seen this type of excitement in the metals since the 70s but really you may have to go back to the industrial revolution or maybe just back to the China industrial revolution to get a sense of how the demand for metals could rise exponentially in just a few years to day we’re seeing Palladium break out on the upside perhaps getting ready to play catch up the seasonal trade long gold short platinum that normally performs well on the munch that the March has well exceeded expectations and now there is more concern that the price is silver that has been lagging has been manipulated to the downside but some analysts like Jesse Colombo are looking at the charts on silver and they might not be able to keep the silver market under wraps too much longer…
Before silver made its big upward move Mr. Columbo reported about a bullish cup and handle pattern spanning back to the 1960s has taken over in the silver market pointing to a breakout that could propel the prices of silver to $700.00 per oz while that prediction by Mr. Columbo seems crazy it reminds me of a prediction that I made in gold back in the early 90s I looked at a similar formation on the long term charts that projected the gold it’s going to make a major bottom back in the early 90s similar formation when I predicted that gold had broken out of a major soccer formation on the long term charts and projected it much higher gold was said about $500.00 an ounce give or take a little bit and of course the rest is history so does that price sound so crazy I think Mr. Columbo could be on to something?
Historically silver is still cheap compared to historical levels some believe that it’s being manipulated lower. Jesse Columbo wrote a piece that explained that silver has been manipulated lower by some of the big banks in fact major financial institutions such as JP Morgan Chase USB HSBC and Goldman Sachs have been found guilty of manipulating precious metals markets particularly gold and silver in the past. And now with these banks they’re fighting a losing battle they may have to get out of the way and allow silver to have its day .
The precious metals market is experiencing significant movements that are noteworthy. This period could be one of the most historic times in the metals space, driven by central bank purchases of gold and increasing demand for industrial metals. The new economy powered by artificial intelligence and large data centers is creating increased demand for electricity and components related to artificial intelligence. This situation presents a unique opportunity to invest in metals. Energy Secretary Chris Wright says that China is going all-out on AI, which has massive national security implications – and the U.S. must stay ahead in the AI arms race. That takes a lot of energy, but the Trump Administration is ready to meet that challenge.
Silver remains undervalued compared to historical levels, with some believing it has been manipulated lower. Jesse Colombo’s analysis points to manipulation by major financial institutions like JP Morgan Chase, UBS, HSBC, and Goldman Sachs. These banks have previously been found guilty of manipulating precious metals markets, particularly gold and silver. If current trends continue, these institutions may need to adjust their strategies regarding silver. And now with these banks they’re fighting a losing battle they may have to get out of the way and allow silver to have its day.
Zero Hedge is reporting that those who seethe as their dollars lose value to inflation may be pleased to know that many states are now working to pass laws that would allow gold and silver to be used-not only for savings and investment but as everyday currency for purchases and payments as well. The state of Utah took a major step last week toward the use of gold and silver as transactional currencies, allowing their use for state payments to vendors. A bill, sponsored by state Rep. Ken Ivory, passed the Utah state legislature on March 18 and is now awaiting the signature of Gov. Spencer Cox. If signed, this bill would make Utah the first state in America to pass a “transactional gold” bill.
“This is about making sure that people have choices,” Ivory told The Epoch Times. “It’s important that we give people a choice in how they store and transact their earnings and their savings.” For Utah residents, the bill also addressed issues of local autonomy and preservation of savings, he said.
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Silver Continues to Power Higher
By: Christopher Lewis | March 27, 2025
• The silver market looks strong again on Thursday, as we continue to see a lot of buying on the dips.
Silver Markets Technical Analysis
The silver market has shown itself to be fairly resilient and bullish during the trading session on Thursday in the early hours as we are now doing everything we can to try to break out to the upside. With that being the case, I think you’ve got a situation where traders will be looking to buy each and every dip along the road, with special attention being paid to the $33.33 level and the $33 level. Underneath there, we have the 50-day EMA, which is close to the $32.50 low.
If we can break out above the highs of the last couple of weeks, then it gives us a real chance to go to the $35 level, which I think would obviously attract a lot of attention. Historically speaking, once we get above $35, we quite often will see the market trying to get to the $50 level. It’s only happened a couple of times in the past, but it’s been a pretty explosive rally.
As things say right now, this remains a buy on the dip type of market that you have to keep in the back of your mind as one that could be very explosive, but it’s also very volatile and you do have to be careful with that. So, with all of that in mind, I’m bullish, I just recognize that we probably get a lot of choppiness between both buyers and sellers going forward.
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Silver (XAG) Forecast: Breakouts Above $33.45 Pivot as Safe-Haven Demand Sparks Rally
By: James Hyerczyk | March 25, 2025
Key Points:
• Silver breaks above $33.45 pivot, signaling bullish momentum with $34.24 and $35.40 now back in traders' sights.
• Weak U.S. consumer confidence data hits 12-year low, driving safe-haven demand for silver and gold.
• Fed rate cut expectations boost silver outlook as lower yields increase the metal’s appeal to risk-averse investors.
Silver Rebounds Sharply as Safe-Haven Demand Intensifies
Silver surged on Tuesday, reversing last week’s pullback, as weak U.S. consumer confidence data and tariff uncertainty fueled safe-haven buying. With the metal reclaiming ground above its key technical pivot, trader sentiment has turned bullish again, supported by broader macro risks and a constructive technical structure.
At 15.07 GMT, XAG/USD is trading $33.70, up $0.68 or +2.05%.
Technical Break Reinforces Bullish Case
Daily Silver (XAG/USD)
After briefly dipping to $32.66 last week, silver has regained the $33.45 pivot, which now serves as near-term support. The level is seen as a trigger for momentum trades, and a sustained move above it could drive a retest of the recent high at $34.24. A breakout above that zone would open the path toward resistance between $34.87 and $35.40. Conversely, a failure to hold $33.45 could expose the downside to the $32.53–$31.81 retracement range.
The 50-day moving average at $32.09 remains a key technical guidepost. Silver has respected this average since December, reinforcing its role as a broader trend indicator. As long as price action remains above it, technical traders will continue favoring the long side.
Silver Outlook: Bias Tilted to the Upside
With risk sentiment deteriorating and technicals aligned to the upside, silver remains positioned for further gains. A close above $34.24 would confirm bullish momentum, with traders eyeing $35.40 as a near-term target. Any dips toward $33.45 or $32.66 are likely to be viewed as buying opportunities, particularly if macro headwinds persist and gold continues to hold above $3,000.
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Silver Bearish Pullback Could Extend Toward 50-Day MA
By: Bruce Powers | March 24, 2025
• Silver remains under pressure after testing key support at $32.66. A break lower could open the door to further declines toward the 50-Day MA.
Silver traded in a relatively narrow range on Monday and within Friday’s trading range. Friday’s decline to a low of $32.66 completed a 61.8% Fibonacci retracement of an internal upswing and successfully tested support at the 20-Day MA. When two or more indicators identify a similar price level on the way down there is a good chance that signs of support will be seen, at least on first approach. Monday’s high reached $33.31, and the low for the day was $32.89 at the time of this writing. Trading continues near the lows of the day, and it looks like silver may close Monday’s session in a relatively bearish position, in the lower third of the day’s trading range, if not lower.
Below $32.66 is 50-Day MA at $32.01
If the price of silver continues below last week’s low of $32.66, a breakdown below the 20-Day MA will have triggered, opening the possibility of an eventual test of support around the 50-Day MA, currently at $32.01. Other price levels to watch for possible support include the 50% retracement at $32.53. However, 61.8% Fibonacci retracement of the full upswing beginning from a February 28 swing low, is at $32.12. Also, since the 50-Day MA is rising and may soon converge and rise above the 61.8% retracement.
Channel Shows Inclination Towards Lower Prices
The rising parallel trend channel that is highlighted on the chart illustrates the potential for an eventual test of support near the lower trendline of the channel. Notice that the top channel line marked an area of resistance during several attempts to break out above the channel. Most recently the rally to a $34.24 trend high was a failed bullish breakout attempt. This means that there is a chance the bearish pullback will continue, and possibility till approaching the lower trendline of the rising channel. But whether it does so or not the inclination may be to move towards the lower boundary of the channel.
Bull Trend Intact Above 50-Day MA
Nonetheless, the advance from the $28.75 swing low in December may be in its early stages when considering the 50-Day MA as an indicator of the rising trend. The 50-Day line was reclaimed on January 29, and it was successfully tested as support in late-February. That low was followed by a continuation of the bull trend with a higher swing high last week.
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NY Silver COMEX Futures »» Weekly Summary Analysis
By: Marty Armstrong | March 22, 2025
NY Silver COMEX Futures closed today at 33486 and is trading up about 14% for the year from last year's settlement of 29242. Caution is required for this market is starting to suggest it could now decline on the MONTHLY level. This price action here in March is suggesting that this has been a bear market trend on the monthly level. As we stand right now, this market has made a new high exceeding the previous month's high reaching thus far 35000 intraday and is still trading above that high of 34240.
ECONOMIC CONFIDENCE MODEL CORRELATION
Here in NY Silver COMEX Futures, we do find that this particular market has correlated with our Economic Confidence Model in the past. The Last turning point on the ECM cycle low to line up with this market was 2020 and 2015 and 2001. The Last turning point on the ECM cycle high to line up with this market was 2024 and 2011 and 1998.
MARKET OVERVIEW
NEAR-TERM OUTLOOK
The historical perspective in the NY Silver COMEX Futures included a rally from 2020 moving into a major high for 2024, the market has pulled back for the current year. The last Yearly Reversal to be elected was a Bullish at the close of 2024. However, the market has been unable to exceed that level intraday since then. Nonetheless, the market has rebound quite strong and is trading within 1% of the previous high. This overall rally has been 4 years in the making.
This market remains in a positive position on the weekly to yearly levels of our indicating models. Pay attention to the Monthly level for any serious change in long-term trend ahead.
The perspective using the indicating ranges on the Daily level in the NY Silver COMEX Futures, this market remains neutral with resistance standing at 34140 and support forming below at 33045. The market is trading closer to the support level at this time.
On the weekly level, the last important high was established the week of March 17th at 35000, which was up 13 weeks from the low made back during the week of December 16th. So far, this week is trading within last week's range of 35000 to 33165. Nevertheless, the market is still trading downward more toward support than resistance. A closing beneath last week's low would be a technical signal for a correction to retest support.
When we look deeply into the underlying tone of this immediate market, we see it is currently still in a semi neutral posture despite declining from the previous high at 35000 made 0 week ago. Still, this market is within our trading envelope which spans between 29099 and 34973. The broader perspective, this current rally into the week of March 17th reaching 35000 has exceeded the previous high of 34240 made back during the week of February 10th.
Right now, the market is above momentum on our weekly models hinting this is still bullish for now. Looking at this from a wider perspective, this market has been trading up for the past 3 weeks overall.
INTERMEDIATE-TERM OUTLOOK
YEARLY MOMENTUM MODEL INDICATOR
Our Momentum Models are rising at this time with the previous low made 2023 while the last high formed on 2024. However, this market has rallied in price with the last cyclical high formed on 2024 warning that this market remains strong at this time on a correlation perspective as it has moved higher with the Momentum Model.
Looking at the longer-term monthly level, we did see that the market made a high in October 2024 at 35070. After a twelve month rally from the previous low of 30345, it made last high in October. Since this last high, the market has corrected for twelve months. However, this market has held important support last month. So far here in March, this market has held above last month's low of 31365 reaching 31635.
Critical support still underlies this market at 27440 and a break of that level on a monthly closing basis would warn that a sustainable decline ahead becomes possible. Nevertheless, the market is trading above last month's high showing some strength.
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Silver Finds Buyers on The Dip
By: Christopher Lewis | March 20, 2025
• The silver market fell hard in the Asian session on Thursday, as the markets continue to see a lot of volatility. However, it is worth noting that the buyers have returned as we head toward the US session. Silver continues to be noisy, so be careful with your position size.
Silver Markets Technical Analysis
The silver market has plunged early during the trading session on Thursday to reach towards the $33.33 level, an area that I’ve been watching quite a bit. It might be worth noting that the market does seem as if it is trying to stabilize here and therefore, I think we could see value hunters coming in to pick up little bits and pieces of silver in order to take advantage of what has been a very strong uptrend. I have no interest in shorting silver, and I do think that given enough time we probably go quite a bit higher, but I also recognize that silver is a very noisy market and one that you can get into a lot of trouble if you are not careful.
So, with that, I am hesitant to get aggressive, but I do think that this could be a short-term buy on the dip setup. If we break down from here, the $32.50 level is an area where I start to look at potential support as well. And I think that given enough time, we are going to do everything we can to finally break towards the $35 level, which was a major swing high, and of course, an area that’s been important multiple times throughout history. I have no interest in shorting silver. I think ultimately, we do go higher based on a shrinking US dollar, and of course, a lot of fear out there as it is part of the precious metals complex.
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Silver Strengthens After Pullback, Eyes Break Above $34.08
By: Bruce Powers | March 17, 2025
• Silver rebounded from early losses, forming a bullish hammer. A break above $33.90 could signal strength toward $34.08 and higher resistance at $34.44 and $34.60.
Silver dropped below Friday’s low of $33.53 on Monday before finding support at $33.43 and bouncing intraday. Despite the early signs of a possible bearish reversal, silver instead is showing strength heading into the final period of the day. It looks likely to close strong, near the highs of the day, but also with a bullish hammer candlestick pattern or a doji hammer. Nonetheless, a decisive rally above today’s high of $33.90 (currently) could trigger a continuation of the bullish advance.
Resistance at Top of Rising Channel
Resistance was seen at a trend high of $34.08 on Friday prior to Monday’s pullback. Notice that resistance was seen around the top trendline line of a rising parallel trend channel. Since the line is rising, potential resistance around the line is also rising. This means that last Friday’s high of $34.08 could be busted to the upside and resistance may continue to be seen around the top channel line. Other possible resistance levels may be where two trendline cross around $34.44, followed by the completion of an initial target for a rising ABCD pattern at $34.60.
Highest Weekly Closing Price Since 2012!
Silver had its highest weekly closing price since November 2012 last week! It followed a new trend high of $34.08 for the upswing starting from December’s swing low on Friday. This was a long-term bullish signal and shows improving underlying demand for natural gas. Therefore, traders and investors will be watching for bullish signals during periods of weakness to take advantage of the strengthening long-term trend. In addition, if silver ends the month in a relatively strong position, it has a chance to establish its highest monthly closing price since 2011.
Potential Support on Weakness at $32.77
Nevertheless, if resistance continues to be seen around the top of the rising channel pattern, a pullback to test support levels may come before a decisive rally to new trend highs that might be sustainable. Potential support around the 20-Day MA, now at $32.53, deserves attention. Also, the prior interim swing high at $32.77 from two weeks ago could see support as well. As long as support remains above the recent interim swing low $31.81 silver retains a near-term bullish outlook.
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Gold Breaks $3,000, But Here’s Why Silver Could Steal the Show…
By: Mike Gleason | March 16, 2025
Well, you've probably noticed the fireworks in gold and silver this week -- with gold touching $3,000 an ounce and silver pushing up above $34.
Gold had already been performing extremely well over the past 18 months, despite a strong general stock market AND a strong dollar. Now, with the stock market correcting 10% over the past four weeks, it's no longer looking like a one-way street. And new investment flows are moving toward gold in a safe-have trade.
Asia and the Middle East have continued to buy along the way over the past 2-3 years, including central banks. If retail investors in North America and Europe start increasing gold purchases, it would add fuel to the fire. Frankly, we're barely seeing that yet, but it could be coming soon, if for no other reason than fear of missing out, often dubbed as FOMO.
Not only do gold and silver both have momentum but also the fact that the Spring season, especially April, is historically a strong period for these metals. Looking at recent decades, for example, gold closes higher in April most of the time. In fact, over the past five years, gold finished higher in March and April 80% of the time -- and in May, 60% of the time.
Even with all the gains we've been seeing, though, gold is still well below its 1980 high in inflation-adjusted terms. Depending on whether you use the government's understated measure of inflation or the true inflation rate, the 1980 gold high of $850 would be at least $3,500 today.
But the most interesting thing is silver. Silver rallied up to $50 in both 1980 and 2011, and it's been trapped under $35 for over a decade. However, silver has not even overcome its nominal high of $50 of decades past.
But get this – adjusting for inflation (and using the government's deliberately understated CPI numbers), silver's 1980 high is close to $200.
Silver also tends to accelerate and outperform gold in the later part of a bull market (even though it starts out slow). If that pattern follows, and if gold's bull run continues, then we can expect silver to gallop way ahead here soon.
Indeed, silver has already started to outperform gold in 2025, with the gold:silver ratio starting to slide from a historically high 91:1 to start the year, to about 88:1 now. By the time the bull market for precious metals ended in 2011, the gold:silver ratio actually fell into the low 30s.
If that pattern repeats, that implies a dramatic outperformance of silver as compared to gold. So, keep a close eye on silver, particularly if the gold bull has a lot more to run.
As for this week’s market action, before we get to our interview for the week, gold is coming in just a tick below the $3,000 level here at the moment and currently trades at $2,998 an ounce, up 2.6% for the week. The yellow metal is set to end the week in positive territory for the 10th time in the last 11 weeks.
Turning to silver, the white metal is up 3.5% since last Friday’s close, having gained over $1 an ounce. And while it’s come off its highs from earlier in the week where it eclipsed the $34 level, it currently comes in at $33.88 as of this Friday midday recording.
And finally, the PGMs are both having strong weeks as well. Platinum is back over $1,000 to check in at $1,010, good for a 2.6% gain on the week. Palladium, which now trades at a discount to platinum, is up a more modest 1.0% to check in at $996.
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NY Silver COMEX Futures »» Weekly Summary Analysis
By: Marty Armstrong | March 15, 2025
This market made a new high today after the past 3 trading days. The market opened higher and closed higher. The immediate trading pattern in this market has exceeded the previous session's high intraday reaching 34860. Therefore, this market has rallied over the past 10 trading sessions and there is a potential to move up for another 9 days. This market is trading above our normal trading envelope which resides at 34138 suggesting it is strong and still in a breakout position. Additionally, this market is very strong while our projected overhead resistance stands at 35110 and 35320.
ECONOMIC CONFIDENCE MODEL CORRELATION
Here in NY Silver COMEX Futures, we do find that this particular market has correlated with our Economic Confidence Model in the past. Our next ECM target remains Wed. Jun. 4, 2025. The Last turning point on the ECM cycle low to line up with this market was 2020 and 2015 and 2001. The Last turning point on the ECM cycle high to line up with this market was 2024 and 2011 and 1998.
MARKET OVERVIEW
NEAR-TERM OUTLOOK
The historical perspective in the NY Silver COMEX Futures included a rally from 2020 moving into a major high for 2024, the market has pulled back for the current year. The last Yearly Reversal to be elected was a Bullish at the close of 2024. However, the market has been unable to exceed that level intraday since then. Nonetheless, the market has rebound quite strong and is trading within 1% of the previous high. This overall rally has been 4 years in the making.
This market remains in a positive position on the weekly to yearly levels of our indicating models. Pay attention to the Monthly level for any serious change in long-term trend ahead.
Focusing on our perspective using the indicating ranges on the Daily level in the NY Silver COMEX Futures, this market remains in a bullish position at this time with the underlying support beginning at 33445.
On the weekly level, the last important high was established the week of March 10th at 34860, which was up 12 weeks from the low made back during the week of December 16th. So far, this week is trading within last week's range of 34860 to 32215. Nevertheless, the market is still trading upward more toward resistance than support. A closing beneath last week's low would be a technical signal for a correction to retest support.
When we look deeply into the underlying tone of this immediate market, we see it is currently still in a semi neutral posture despite declining from the previous high at 34860 made 0 week ago. Still, this market is within our trading envelope which spans between 27204 and 36326. The broader perspective, this current rally into the week of March 10th reaching 34860 has exceeded the previous high of 33330 made back during the week of December 9th.
Right now, the market is above momentum on our weekly models hinting this is still bullish for now as well as trend, long-term trend, and cyclical strength. Looking at this from a wider perspective, this market has been trading up for the past 12 weeks overall.
INTERMEDIATE-TERM OUTLOOK
YEARLY MOMENTUM MODEL INDICATOR
Our Momentum Models are rising at this time with the previous low made 2023 while the last high formed on 2024. However, this market has rallied in price with the last cyclical high formed on 2024 warning that this market remains strong at this time on a correlation perspective as it has moved higher with the Momentum Model.
Looking at the longer-term monthly level, we did see that the market made a high in October 2024 at 35070. After a twelve month rally from the previous low of 30345, it made last high in October. Since this last high, the market has corrected for twelve months. However, this market has held important support last month. So far here in March, this market has held above last month's low of 31365 reaching 31635.
Critical support still underlies this market at 27440 and a break of that level on a monthly closing basis would warn that a sustainable decline ahead becomes possible. Nevertheless, the market is trading above last month's high showing some strength.
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Silver (XAG) Prices Consolidate, But Bullish Outlook Stays Intact
By: James Hyerczyk | March 14, 2025
Key Points:
• Silver consolidates after a strong breakout, holding above $33.39 support—can bulls push toward the $34.87-$35.40 resistance zone?
• Gold’s surge past $3,000 boosts silver’s bullish case as central bank buying and Fed rate cut expectations drive investor demand.
• Technical analysis confirms silver’s uptrend, with the 50-day moving average at $31.59 providing a critical support level.
• Weaker U.S. dollar and rising safe-haven demand fuel silver’s outlook—watch for a breakout if buyers sustain momentum.
• Silver traders eye a move past $35.40, which could trigger further momentum buying and push prices toward multi-year highs.
Silver Consolidates, Poised for Further Upside as Gold Strength Supports Bullish Outlook
Silver prices held steady on Friday, consolidating after Thursday’s strong breakout. While the metal remains below recent highs, technical support levels suggest the bullish trend is intact. With gold rallying past $3,000 on safe-haven demand and central bank accumulation, silver is expected to follow suit, benefiting from similar macroeconomic factors.
At 16:27 GMT, XAG/USD is trading $33.67, down $0.20 or -0.58%.
Technical Support Holds, Keeping Silver Bulls in Control
Daily Silver (XAG/USD)
Silver is currently trading above key support at $33.39, with additional levels at $32.53 and $31.81. The most critical support sits at the 50-day moving average of $31.59, a level that has consistently provided a floor for the market. As long as silver remains above these levels, the bullish trend remains in play.
On the upside, there is substantial room for further gains, with the next major resistance zone between $34.87 and $35.40. A move past this range could trigger additional momentum buying, potentially setting up a retest of multi-year highs.
Gold’s Surge Reinforces Silver’s Bullish Case
Gold’s rally past $3,000 underscores a strong demand for precious metals in response to global economic uncertainty. Central banks, particularly China, have been aggressively increasing gold reserves, signaling a shift away from the U.S. dollar. This trend supports silver as well, given its dual role as both an industrial and monetary asset.
Additionally, expectations of a more accommodative Federal Reserve have fueled a weaker dollar, further supporting precious metals. Traders are pricing in rate cuts later this year, which would enhance silver’s appeal as a hedge against currency devaluation.
Market Forecast: Silver to Test Higher Levels
Silver’s recent consolidation suggests a pause rather than a reversal. If prices remain above $33.39, buyers could push the market toward the next major resistance at $34.87-$35.40. Given the ongoing strength in gold, safe-haven demand, and the Fed’s dovish stance, silver is likely to maintain its upward trend.
Traders should watch for any sustained move above $35.40, which could open the door for a more aggressive rally. Conversely, a break below $31.59 would be an early warning of trend weakness. For now, the outlook remains bullish, with further gains expected in the near term.
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Silver Consolidates in The Early Part of Friday Trading
By: Christopher Lewis | March 14, 2025
• The silver market continues to see a lot of noisy action, as we are in a strong uptrend. At this point, the silver market is simply following the overall uptrend that we have been in, taking its cues from the gold market.
Silver Markets Technical Analysis
The silver market has gone back and forth during the trading session in the early hours on Friday as Thursday was so massive. I think at this point we’re probably going to have to digest a bit of the gains. A short-term pullback is most certainly possible, but I think that short-term pullback ends up being a nice buying opportunity.
I see the $33.33 level as a potential support level based upon previous resistance. All things being equal though, we are most certainly looking at a market that is likely to go higher, perhaps trying to reach the crucial $35 level above that acted as a bit of a ceiling previously. This would allow “market memory” to be tested in this area.
Ultimately, I do think this is a market that is likely to continue to find buyers based on the shrinking US dollar and of course the idea that the World needs a bit of safety via precious metals granted gold is a better bet in that scenario, but silver does tend to follow it over the longer term and as long as that’s going to be the case, I think you have to look at this as a long only time of situation that doesn’t necessarily mean that you buy here, but dips should continue to attract people that are willing to jump in and take advantage of cheap ounces of silver. Buying at these higher levels could be an issue, but obviously we only want to be buyers, and not short.
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Silver Drops Below 20-Day MA, Eyes Key Support Levels
By: Bruce Powers | March 10, 2025
• A lower swing high in silver suggests weakening momentum, with prices testing key support levels as downside risks increase in the short term.
Silver began to weaken further on Monday following the establishment of a lower swing high last week at $32.77. Potential support around the 20-Day MA at $32.19 failed to hold as support on Monday and trading continues in the lower third of the day’s trading range, at the time of this writing. This points to a likely deeper bearish pullback. Currently, the low for the day was $31.94, which matched weekly support from three weeks ago.
Short-term Correction
Until shown otherwise, silver remains within a developing uptrend that began from the December swing low at $28.75. A series of higher swing highs and higher swing lows followed until last week. A lower swing high shows weakening demand and it is warning of a potential bearish pullback within the rising trend. The 50-Day MA at $31.25, along with a rising trendline, mark potential support for the trend.
At the end of last year silver reclaimed the 50-Day MA and it remained above the line until a successful test of support late-February. That drop to the 50-Day line established a higher swing high at $30.81, which is part of the price structure of the uptrend. It is also support for February. Therefore, it marks a key support level as a sustained decline below that swing low signals a possible bearish reversal of the current near-term bull trend.
Consolidation on Weekly Time Frame
The weekly pattern in silver shows consolidation as last week’s price range was inside the range of the previous week. Therefore, potential weekly support is at last week’s low of $31.12. Furthermore, the 200-Day MA is at $30.54 currently. It has not been tested as support since the end of last year. Nonetheless, February’s low $30.81 would be reached before the 200-Day MA and a drop below it would trigger a monthly breakdown. Moreover, February ended with a bearish shooting star candlestick pattern.
Rally Above $32.77 Needed to Confirm Strength
On the upside, a decisive rally above today’s high of $32.67 will show strength. But until last week’s high at $32.77 is exceeded, the potential for lower prices first remains. The recent February swing high at $33.39 marks potentially significant resistance given the monthly bearish candle that formed. This will make a successful test of support near the 50-Day line more significant, as a deeper pullback could trigger the long-term monthly chart.
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