Silver Price Outlook – Silver Continues to Reach Even Higher Early on Thursday

Silver Technical Analysis

The silver market has rallied significantly during the trading session on Thursday as the outrageous move continues. This is a move that just over the last four days has seen as much as a 14% gain. This is interesting because there is a problem with this move that is difficult to reconcile, and that is the extreme lack of volume to get racing back to this area. This is very interesting, and the market is starting to give some back.

Shorting silver is not necessarily the way to go, but the lack of volume is the one thing that makes this difficult. If you’re chasing a 14% move after a couple of days, sometimes it works out; other times you lose your account. It is a market that, if you want to buy, needs to pull back. It also needs to hold the $50 level, giving about $4 worth of wiggle room, which is a good thing if you’re bullish.

It is interesting that the metal markets are acting the way they are because the dollar itself is not exactly getting hammered. So, it’s not an anti-US dollar play. It is probably a mixture of factors, including central banks. In the case of silver, it might even be the idea of EV and AI data centers. Silver is a very thin market with only a few major players, so many things happening at once can cause chaos like this. The lack of volume remains a concern and is typically a red flag, but this time could be different. $50 is key. As long as the market stays above $50, the outlook remains to the upside. If it gives back $50, that is probably a poor sign.

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