Silver has broken above the $24 mark again during Tuesday’s trading session, demonstrating renewed signs of strength. At this time, I believe the market is attempting to grind its way to the $25 level, but I do not believe it will do so without difficulty. Frankly, the market is somewhat exhausted at the moment, and I would predict a slight pullback. This retreat should be a buying opportunity, and I am particularly interested in purchasing silver near $23 and again at the 50-day exponential moving average.
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Nevertheless, it is the middle of the holiday season, so it is tough to get too enthused about buying or investing money since they simply will not have a great deal of liquidity. The markets could be quite volatile while simultaneously stagnating. Silver is, to put it mildly, quite volatile, thus I believe that you must exercise extreme caution while trading in this market.
Frankly, I’d love to see a massive selloff in thin markets that I can take advantage of, because I believe that although silver is an industrial metal and that part of it will not work in the future, the reality is that many people are trying to protect their wealth, and silver is just one way to do so. Ultimately, I am a buyer of declines, but I haven’t encountered one recently that piqued my interest enough to warrant a substantial investment.