As you can see, Silver is currently in the beginning stages of firing a quarterly squeeze, this is extremely important as it a strong indicator of the macro environment that we are heading into, namely, one with very high expectations.
This is not surprising given the gargantuan fiscal and monetary spending that has come as a result of the global lockdown.
With this in mind, it is not at all unexpected to see the recent surge in the precious metal.
I believe that we could see this current rally continue all the way up to around $26 USD/ ounce, this coincides with the 38.2% fib retracement and would also mark the last major resistance for silver before working up to $35 and eventually the prior ATH at around $50
I am personally waiting for a bit of an ease prior to entering, as i don't want to chase the move, and i am already well situated for a move higher, should it continue unabated.
For reference, this is the prior quarterly squeeze that fired on Silver .
This is the current quarterly squeeze that fired in Gold .
Do with that information as you will...