1Settimana
I believe silver will eventually pass the $50 mark, and I expect it to go well beyond that in the long run. Silver is already at an all-time high in several currencies, such as the Chinese Yuan (CNY) and the Japanese Yen (JPY), so for the U.S. dollar it feels more like a question of when, not if.
Pullbacks and resistance levels are both expected and, in my view, welcome. For example, yesterday’s pullback (with the relatively high volume sold) seemed almost amusing, and I used the opportunity to stack a bit more. Short-selling pressure is also something to expect from time to time.
I also think that once silver crosses the $50 threshold, it will attract significant media attention, which could drive the price even higher. After all, there’s only so much silver that can be mined.
That said, this is just my personal opinion, and of course, I could be wrong.
Pullbacks and resistance levels are both expected and, in my view, welcome. For example, yesterday’s pullback (with the relatively high volume sold) seemed almost amusing, and I used the opportunity to stack a bit more. Short-selling pressure is also something to expect from time to time.
I also think that once silver crosses the $50 threshold, it will attract significant media attention, which could drive the price even higher. After all, there’s only so much silver that can be mined.
That said, this is just my personal opinion, and of course, I could be wrong.
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1Settimana
@Iguessso certainly a drawdown would be welcome. I'd love to upp my stack a bit to a nice round number. Maybe when the all time high is touched. But like you said, in most currencies silver is already at an all-time high. So the resistance is only a thing for dollar based traders. We'll see how things go next week
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1Settimana
@trabajohombre Just in :)
UBS has raised its gold and silver price forecasts again, flagging strong momentum from investor demand, macroeconomic uncertainty, and persistent fiscal and geopolitical pressures.
Silver forecasts were lifted to $52 and $55 an ounce, compared with previous targets of $44 and $47.
UBS has raised its gold and silver price forecasts again, flagging strong momentum from investor demand, macroeconomic uncertainty, and persistent fiscal and geopolitical pressures.
Silver forecasts were lifted to $52 and $55 an ounce, compared with previous targets of $44 and $47.
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