Silver Can See More Gains After A Bullish Breakout

Barchart · 05/13 10:11

Silver has seen a significant rise over the past few weeks and we have been warning about for the last couple of months. Check previous article HERE.

Now that is close to 2021 highs, we believe there’s a chance for a break above that 30 level, especially if we consider inverted Head and Shoulders pattern that is targeting higher prices. One of the key drivers for silver’s ascent is undoubtedly the heightened geopolitical risk in the Middle East and persistent inflation concerns.

Silver Can See More Gains After A Bullish Breakout XAGUSD (Silver) Weekly Chart
XAGUSD (Silver) Weekly Chart


On the date of publication, Gregor Horvat did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.