I can see that silver is still widely supported overall.
Technical Analysis
Silver, a precious metal, is the second-most traded precious metal, trailing only gold.
Demand continues to soar, driven by demand for solar panels, industrial use due to having the highest electrical conductivity, thermal conductivity, and reflectivity of any metal, and its use in water filtration, electrical contacts, conductors, or catalysis of chemical reactions. Silver is also an excellent portfolio inflation hedge and long-term investment. It is also a core metal in the next wave of green and blue innovation.
Mexico, Peru, China, and Chile are the top four silver producers. Other notable silver producers are Bolivia, Argentina, Kazakhstan, Morocco, Indonesia, Uzbekistan, Papua New Guinea, and the Dominican Republic. Silver prices could face long-term upside pressures as demand for this precious metal continues to soar, while silver miners project a decrease in supply.
Silver belongs to the seven metals of antiquity, with gold, copper, tin, lead, iron, and mercury. It often outperforms during market uncertainty, global economic issues, and high inflation but underperforms during calmer conditions. The long-term outlook for silver is
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In my daily silver analysis, I can see that the asset has reached quite drastically to the upside as it looks like we are going to continue to threaten the $28.50 level
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It's easy to see that we are bullish in the early hours.
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Silver initially plunged during the early hours on Tuesday again, but then turned around to show signs of life.
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The first thing that I would mention is that it seems like we are trying to stabilize after a brutal sell off.
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I noticed that we are hanging about and perhaps trying to stabilize.
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In my daily silver analysis, the first thing I notice is that we dropped roughly 4% overnight, as the panic and the computerized continuation of noise continues.
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As you can see, the silver market has initially fell a bit during the trading session and turned around to show signs of life.
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It’s hard not to notice that this market continues to suffer at the hands of selling pressure.
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I have noticed that Silver continues to see a lot of volatility.
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it has become increasingly obvious that there are a lot of buyers out there on dips
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I see clearly that this is a very bullish market, and that it should continue to strengthen.
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Silver rallied a bit during the trading session on Monday but has also given back some of the gains to show signs of hesitation.
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Silver has fallen initially during the early hours on Tuesday.
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