Silver Price Prediction Successful Again, Strategy Update

[madtrader]

After a period of one-sided upward movement, silver is currently consolidating at high levels without breaking through key support levels. Short positions opened near 58.5 today have yielded substantial profits. Silver needs a decent pullback, as this is necessary for a healthier upward trend. What should we pay attention to in our trading?

1. Although silver prices have risen slightly, technical analysis clearly indicates that the market is significantly overbought. Therefore, caution is advised at the current price level. Those familiar with silver trading know that such impulsive rallies often carry potential risks and can easily lead to losses. Historical experience shows that similar situations have repeatedly occurred, with silver prices often falling rapidly after a surge.

2. It is worth noting that silver is currently at historical highs. In the current market environment, controlling position size is crucial. While people often desire to invest heavily in the market for short-term wealth growth, experience shows that blindly chasing the rally with large positions ultimately backfires. Now is not the best time to chase the rally; the recommended strategy remains buying on dips.

3. As we all know, we primarily engage in short-term trading. In short-term trading, no market goes up or down forever. The key is to grasp the rhythm and follow the trend. Our recent trading has been very successful. In the short term, silver prices face resistance around $58.6 to $59, with support between $56.5 and $57. Currently, silver prices are fluctuating within a certain range, and we are using a strategy of selling high and buying low. Only a break below $56.50 would trigger an intraday pullback, providing an opportunity for a rebound or adding to positions.

4. However, once short-term pressure eases, the fundamentals of industrial demand and monetary attributes will continue to support silver's positive outlook for many years to come. In the medium to long term, silver remains bullish. If you need to recover significant losses or obtain precise trading signals, please contact me.

[Rimon Khan]

Another accurate silver call—strategy clearly working well.

[Nahid Hossen]

Consistent predictions build strong confidence in the model.