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Commentaries & Views

If you aren't surprised with silver at $25, you may be in the camp of forward thinkers (or regular readers) asking, "What's next?" (Congrats). In my opinion, bulls have begun illuminating a path to $30.

The daily chart below shows the anticipated breakout. Will silver need to retrace down to $24.50 (or deeper)? It has already retraced to $24.75 this morning from the overnight high of $25.15 spot...

The question is quasi-impossible to answer; in fact, chasing a silver fire is extremely difficult; hence traders need to be experienced and nimble if attempting to do so. However, this is where long-term stackers would (should?) be embracing their vision and strategy to stay the course, ignoring the technical squiggles.

To regular readers, there should be no surprise in the stock market's performance either. Since the fall of 2022 - I have written consistently about this being a cautious stock bull, pointing to 4195 as an important level on S&P futures.

The weekly chart below indicates that momentum likely has farther to go; I suspect a breach of 4195 may occur before weekly momentum tops out. This does not mean I am throwing caution to the wind – rather, I am reiterating my cautiously bullish position.

And finally, here is an update of the monthly logarithmic Bitcoin chart I presented a few weeks ago; In my opinion, it looks absolutely no less bullish.

Thanks and have a great long weekend!

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.