The recent inflation reading of 7% had silver bulls thinking that the market is heading to a higher price in coming sessions. Attached is a rarely seen quarterly silver chart outlining this possibility. You will see there is a rather bullish structure appearing on the chart. The market is triggering a reversal up so, long as we hold above $21.00, a close above $23.50 will likely entice a technical buy. Any corrective pullback will probably be seen as a buy interest rather than sell. Any dip below 21.00 will signal deflation risk, which is least likely but not impossible.

To learn more about inflation, please take a look at our newly updated Inflation Special Report. If there is anything else I can help you with today, and please let me know.

800-367-7290312-373-5394Series 3 Licensed

Eli Tesfaye

Senior Market Strategist
Eli started his career in the futures and options market while he was in graduate school finishing up his MBA in 2003. Eli specializes in Automatic trading strategies and systematic options trading strategies in futures market. He has been Series 3 license holder since 2005. Eli's is an avid reader, runner, and yoga practitioner.
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