Silver Markets Exploded to the Upside for Third Day in a Row

Silver markets have broken rather significantly yet again during the day on Thursday as we have seen three days of explosive movement in a row. At this point time, we are well above the 200 day EMA, and it does suggest that we are going much higher. At this point in time, the $25 level comes into the picture, but it is also worth noting that the largest banks in the world are short of silver near that area, as the market has been so heavily manipulated over the last several years. At this point in time, I would be very cautious about hanging on to this trade and would be more than willing to take at least some profits off the table.

SILVER Video 21.01.22

If we turn around and break down below the 200 day EMA, I think the bottom will probably fall out at that point and we will more than likely see the bottom fallout of this trade, letting silver plans yet again. After all, silver has failed to pick up its momentum for any significant amount of time, although this last move has been rather explosive. Now that everybody in the world seems to be excited about silver, this is generally the most dangerous time. However, if we were to break above the $26 level it would be a huge “buy and hold” type of situation. I do not see that happening, lease not that easily after we have gotten so parabolic. At this point, signs of exhaustion could be interesting selling opportunities, especially if the US dollar starts to strengthen again.

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