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Silver Price Outlook – Silver Gets Hammered

By:
Christopher Lewis
Published: Feb 11, 2025, 14:35 GMT+00:00

Silver got hammered overnight in the Asian session as we have seen a lot of volatility in this market, as well as the gold market. At this point, silver is going to be a very dangerous market.

In this article:

Silver Markets Technical Analysis

The silver market initially did try to rally a bit during the trading session on Tuesday, but the $32.35 level continues to be a major barrier to overcome. With that being said, the market is likely to continue to pay close attention to that level. And if we could break above there, then it’s possible that the market could really start to take off to the $35 level. The $31 level below is likely to continue being a massive amount of support, especially with the 50-day EMA sitting just below.

The market has been very noisy, and I think that will continue to be the case going forward, as this is a very volatile market under the best of circumstances. And after the massive swings that we had seen during the Asian session overnight, I don’t think these are the best of circumstances. If we break down below the $31 level, I think $30 could be your next target.

If we break above $32.35 on a daily close, I think that will kick off quite a bit of FOMO trading. Pay attention to gold because gold initially shot higher during the session and then cratered. So it’ll be interesting to see because silver generally will lag gold at least most times. And with all of the tariffs out there threatening global trade that could affect silver as well as it is also an industrial metal. With this being said, I’m very leery about buying silver at the moment, but I don’t necessarily think it’s a market to be shorted either.

For a look at all of today’s economic events, check out our economic calendar.

About the Author

Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.

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