Silver Price Forecast – Silver Continues to go Straight up in The Air

Silver Markets Technical Analysis

You can see that silver has been extraordinarily bullish and at this point in time, I think you have to look at silver through the prism of a market that, quite frankly, is about to just launch into the stratosphere.

Given enough time, I fully anticipate that silver will probably try to break towards $50 at this rate, because we now are in a situation where you have a major short squeeze that is starting to truly take over. With this, I think you’ve got to look at it through a buy on the dip mentality, and you have to be very cautious about how you trade this, because just blindly jumping into it can lead to massive losses.

With that being said, I think given enough time, the $30 level should prove to be a bit of a floor. And underneath there, I think the $28.50 level also will be a significant floor. Given enough time, ultimately, I think this is a scenario where you have to look at this through the prism of being very, buy on the dip value hunting type of trader.

But we are getting dangerously overextended at this point, and it really does kind of make me nervous, I’m not going to lie. That being said, longer term it’s going higher. I think that’s obvious. No way to short this market. In fact, I suspect that the biggest question that you will have is when do you decide to start adding to an already significant winning position?

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