SILVER SOARS! BREAKS RESISTANCE AND HITS 2025 HIGHES!
Bullish Momentum Turns Up the Heat in the Precious Metals Market!
In an electrifying turn of events, silver has CRUSHED its resistance, skyrocketing to seven-week highs after a fierce battle at the $31 mark. Yes, you read that right—after four failed attempts, the bulls have finally rolled over the offers like a steamroller!
Massive Victory for Silver Bulls!
Silver didn’t just brush past the stumbling block at $30.87; it obliterated minor resistance at $31.48 too! These bold moves follow a week of shaky performance where bearish calls tried to drag the price down below that crucial 200-day moving average. But they failed! The silver bulls have come out swinging, and now the stage is set for a full-blown upward rally.
Momentum Indicators Signal a HUGE Upswing!
Momentum indicators are firing on all cylinders! With the MACD rocketing higher and widening its gap from the signal line, the bulls are showing no signs of letting up. The RSI (14) has also broken free from its minor downtrend. This is CLEARLY a green light for traders to buy the dips and pile in on those bullish breaks!
Can Silver Hold the Line?
If silver can hold above $31.48, the possibilities are endless! Traders can set up potential longs while keeping a stop in place for safety. But watch out! The $32.18 level is looming—acting as a significant battleground that has seen action between October and December. Break through that, and we could be looking at a test of $33.10 and beyond!
But beware! If silver slips below $31.48, the bullish dream could turn into a range-bound nightmare, and a dip below $30.87 would throw the entire bullish signal into question!
GOLD HITS RECORD HIGH—TARIFFS TRIGGER A PRECIOUS METAL FEVER!
Meanwhile, gold isn’t sitting idle either! It has smashed through the previous record high of $2790, continuing a bullish run that’s gaining momentum faster than a speeding bullet! The recent surge came just before news broke that the Trump Administration is rolling out 25% tariffs on imports from Mexico and Canada. This is sending shockwaves through the market—uncertainty is the name of the game, and precious metals are SURGING because of it!
Gold’s Correlation with Silver is STRONGER Than Ever!
Silver and gold are practically joined at the hip with a staggering correlation coefficient of 0.81 over the last month! That means what happens to gold is critical for silver traders. And right now? The message is clear: IT’S BULLISH!
What’s Next for Gold?
The MACD and RSI indicators are flashing bullish signals, but be wary—RSI is nearing overbought territory, raising caution flags about a possible pullback. If you’re considering jumping in, keep your eyes peeled on the action around those former highs. If gold can maintain this momentum, prices could shoot towards the $2800 target in no time!
Stay Alert!
A slip below those former highs could signal a neutral stance, unsettling traders hoping for a bull run. The precious metals market is heating up—hold on tight and keep your strategies sharp!
This is a thrilling ride you don’t want to miss—silver and gold are setting the stage for a potential meteoric rise!
