Looking at the current market environment, it appears that buying on dips may be the strategy to consider. If we break out to the upside and surpass recent highs, there is potential for silver to reach the $26 level. In this scenario, it is likely that the US dollar may weaken against other currencies.
Additionally, gold is expected to rally as central banks around the world are anticipated to cut rates, which could increase demand for precious metals. Silver, being highly industrial, may also benefit from this trend if there is strong industrial demand.
The market has shown strong momentum in recent weeks, and this could continue to drive prices higher. It is advisable to avoid shorting silver unless it falls below $23.50, and even then, it is important to assess the fundamentals before making significant investments.
Considering the upcoming economic events, it is important to stay informed by checking the economic calendar regularly. By staying cautious and informed, investors can navigate the market with more confidence.