Three reasons why Silver Bulls should not despair

14 sie

Silver prices have been under pressure in recent weeks, but that hasn't always been the case. Earlier this year, we identified a breakout that suggested a potential 25% increase in price, which largely materialized. Now, the price has returned to the ascending triangle breakout point around the $26 level. The market has bounced off this level, and as long as it stays above, there’s potential for prices to rise towards $30 or even $32.

Additionally, macro fundamentals are currently favorable for both silver and gold, with the Fed likely to cut rates and a weakening economy offering a safe haven push. Geopolitical tensions in the Middle East, while more impactful on gold, could also provide some support for silver.


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