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Thursday, March 20, 2025 9:59:37 AM
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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DiscoverGold
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.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
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