This morning, silver surged, breaking above $93, and briefly approaching $94, with a stronger rally than gold!
The bullish logic is very clear: geopolitical safe-haven + expectations of Federal Reserve rate cuts support the rally, combined with industrial demand from photovoltaics and new energy sectors, widening the supply and demand gap for silver, and low inventory levels boosting prices.
From a technical perspective, holding above $93 suggests a target of $95-96, with key support at $90-91. Losing this support could trigger a pullback.
In terms of trading, avoid chasing the high. Use the pullback support levels for light long positions, and if encountering resistance in the short term, try small short positions with strict stop-losses.
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1.19 Morning Silver Brief
This morning, silver surged, breaking above $93, and briefly approaching $94, with a stronger rally than gold!
The bullish logic is very clear: geopolitical safe-haven + expectations of Federal Reserve rate cuts support the rally, combined with industrial demand from photovoltaics and new energy sectors, widening the supply and demand gap for silver, and low inventory levels boosting prices.
From a technical perspective, holding above $93 suggests a target of $95-96, with key support at $90-91. Losing this support could trigger a pullback.
In terms of trading, avoid chasing the high. Use the pullback support levels for light long positions, and if encountering resistance in the short term, try small short positions with strict stop-losses.