Silver Price Outlook – Silver Has Another Massive Week

Silver Markets Weekly Technical Analysis

Silver continues to scream to the upside this past week, as we have seen yet another massive gain. At this point in time, it should be obvious you don’t need me to tell you that we’re in an uptrend. I also would point out that gravity eventually does become a thing, and the pullback could be something like $10, and I wouldn’t bat an eye because at this point, that’s a very reasonable pullback. That’s assuming we even get one anytime soon.

Markets can go ballistic like this occasionally, and they’re great runs. After all, somebody bought this down here at like $20, and they’re sitting on a $50 an ounce gain plus leverage. That being said, you don’t want to be reckless and chase a move like this. You need some type of pullback, but you’re going to have to be extraordinarily nimble.

Shorting Is Impossible

Shorting this market is one of the quickest ways I can imagine to blow up your account. There will come a day when this ends in tears because these types of moves always do. There has been a shortage of silver for pretty much my entire career. Why it matters now, there are a lot of guestimates as to what kicked it off, but the reality is it finally broke. This will cause havoc in the financial markets one way or another.

Eventually, somebody big is going to be on the hook for payments that they can’t make, and then it will snake through other markets if this keeps up. Ultimately, though, this is a market that if you do get a pullback of any substance whatsoever, you have to be looking for that bounce to start buying on the right-hand side of the V. This is not a normal market, but it’s also a very clear market. It is clearly stated that there is still a lot of demand.

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