Inflation isn’t going anywhere, and that helps both gold and silver, and that’s why I think you have to look at it through that prism. The US dollar was slightly oversold. So in a sense it makes sense that the silver market is giving back some of its gains while the US dollar gains a little bit of strength. But overall, the momentum seems to be in silver’s favor.
In theory, there are differences on the moving average convergence-divergence indicator from the most recent high to the high we hit in the month of May, but right now that doesn’t necessarily mean anything. We haven’t seen a huge move down. On the other hand, if we break above the shooting star of Thursday’s session, we will continue to climb much higher again, towards what I believe will be the $35 level.
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