Will Silver's Attributes Change, Leading to a Surge?

Silver surged last Friday, closing at $56.35, a 12.72% increase for the week, marking its strongest weekly performance since 2020. Silver prices have once again broken historical records, indicating growing market confidence in a continued slowdown in the US economy, making a December rate cut by the Federal Reserve almost a certainty.

From a candlestick chart perspective, the COMEX silver monthly chart formed a standard "pointing finger" pattern in October and November, with November's strong upward move significantly breaking historical highs. This pattern suggests continued upward momentum in December, a "refueling in mid-air" before resuming its upward trajectory, indicating ample short-term upward momentum.

In the past, silver's primary driver was industrial demand. Now, silver is more of a multi-functional asset, possessing attributes such as industrial demand, monetary value, precious metal properties, and strategic material attributes. Therefore, I believe silver will inevitably challenge the $60 mark, and the current $50 level will no longer be resistance but rather support.

Silver trading recommendations for next week: Primarily buy on dips, with selling on rallies as a secondary strategy. Buy at $55-$55.5, TP at $56.5, SL at $54.5. Sell at $56.8-$57, TP at $56, SL at $57.5.

I focus solely on short-term trading and clear market analysis. In short-term trading, there is no market that goes up or down forever, only the right entry point at any given moment. Find the rhythm and follow the trend. This is the essence of trading. If you are truly unsure when, where, and how to trade, let's work together to flexibly and steadily pursue greater profits in the ever-changing market!