Silver Poised For Upside Continuation

Silver (SLV) and Silver Mining ETF (SIL) climbed to new pre-open highs this AM. SLV hit a 13-year new high at 35.55 while SIL hit a 5-year new high at 51.74...

As long as any forthcoming acute weakness in SLV is contained above key support at 33.50-34.00, the dominant uptrend will remain intact, and poised for upside continuation to 36.10/40 next en route to my optimal upside target window of 37.00... Last is 35.09...

SIL-- As long as any weakness is contained above or within support lodged between 49.70 and 50.20, my pattern work points to a next optimal target zone from 52.80 to 53.80... Last is 51.44...

Finally, I asked AI (SuperGrok) what the most undervalued asset is at this time?  Here is SuperGrok's answer.:

Overall Consensus: Silver as the Standout. If forced to pick one "most undervalued" asset right now, silver takes the crown based on cross-source frequency and substantiation—it's abundance in industrial uses yet artificially suppressed, with potential for rapid appreciation in a volatile 2025 economy


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Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

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