Very basic TA here. After breaking the bullish breakout of the triangle pattern to the upper side, we are entering the next bullish move after taking out the resistance at 25.40 USD. Perhaps with a short-term correction and a re-test of the 200's SMA (red).
Trade active
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Bullish wedge is forming ...
Trade active
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Bullish wedge seems to break to the upside. Targeting 26.50 and then 28.00 USD ...
You've got it. Sadly war is garanty of success in long silver.
CrashBandicoot99
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When do you think silver hits 28?
p4917
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@RocketFuel20, very difficult to say. I've randomly drawn a price forecast on the chart, and it hit 28 in June this year. But this could happen faster (if the conflict with the Ukraine escalates), or it could happen at the end of this year (if there is a de-escalation and just the inflation and seasonality kicking in).
CrashBandicoot99
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@p4917, yep…very difficult to say. April Is typically a strong month for silver prices though. We will see. The most explosive moves in silver usually happen in just a few weeks. Yes…the geopolitical issues could expedite it. However- I personally think the inflation/seasonality is too much to ignore at this point.