Gold/Silver: Can this silver rally hold?
It was a constructive week for commodities as all sectors we track and trade at Blue Line Futures ticked higher. Precious Metals were slow to start as the U.S. Dollar and Two-year Treasury yields put up a strong defense keeping Gold relatively contained. Then softer ISM data put the Fed back on the defensive, questioning whether another rate hike is necessary.
To further help you develop a trading plan, I went back through two decades of my trading strategies to create a Free New"5-Step Technical Analysis Guide to Gold that can easily apply to Silver." The guide will provide you with all the Technical analysis steps to create an actionable plan used as a foundation for entering and exiting the market. You can request yours here: 5-Step Technical Analysis Guide to Gold.Silver's recovery this week and "breakout" above $24.
While a price setback would be temporary, our long-term thesis remains that tightness in the physical markets, a decline in mining supply, and solar and EV demand should offset any potential for prices to decline further. Over the next 18-24 months, we expect Copper to make new all-time highs and Silver to break $35/oz.
Having the flexibility to enter and exit the market quickly makes it essential for Precious Metals investors to have a futures trading account alongside their core Physical Precious Metals holdings.
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