Silver Markets Technical Analysis
Silver was initially withdrawn during the trade session on Friday, only to turn around and show signs of life. Ultimately, this is a market that I think is trying to break out and go to much higher levels. We have been very bullish for a while, but all the things that are the same, I think that every time this market withdraws, you have to view it through the prism of a potential purchase at the DIP situation. If we can break above the level of $ 35, it is likely that silver will really start. The gold market has of course been very bullish and has broken out considerably.
So I think that, considering enough time, I will of course overtake silver. That does not necessarily mean that we will see a shot straight up in the air. And I think silver has some work to do, but all the things that are the same, I am not interested in getting this market short. The $ 33.33 level below is earlier resistance and it should now be support.