As we approach the $24.50 level in the silver market, the next target becomes $26. Although the $22 level below has served as a strong floor, it has been recently breached, indicating some short-term volatility. Despite this, there are still aggressive buyers in the market.
It is advisable not to short silver at this point, as both silver and gold are expected to perform well this year. While the silver market remains volatile, factors such as interest rates, industrial demand, and geopolitical issues can all impact its movement. Silver is unique as it is both a precious metal and an industrial one.
In addition to technical analysis, keeping an eye on economic events through an economic calendar can provide valuable insights for investors looking to navigate the silver market.