The silver market is poised to run higher. It has spent numerous days holding bases around and above $25.00. As I have written about it before, Silver would likely see $30.00 before low $20’s. in my opinion, the silver market is look for an aggressive punch to the upside. As you might know, when silver moves, it moves big in my view!!!. Of course time is everything, the longer the market hangs around these levels, the better chance it will pop. The new jobless claim this week is encouraging but inflation pressure will keep silver bears on their edge. Not sure if you have been paying attention but commodities are heating up. To think that inflation pressure is not around the corner is naïve. For now, a break below $25.60 could trigger a wash to $24.70. A break above $26.70 will trigger a run to high $28.00.

Silver May ’21 Daily Chart
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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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