Why Silver Might Be Gearing Up for a Big Move

Hey Everybody, Smart Silver Stacker here!

This is the very first edition of my new Gold & Silver E-Newsletter. If you are reading this, you are definitely an early adopter. Thank you for signing up!

As this is a new endeavor, I’ll be experimenting with various newsletter formats and ideas. If you have any feedback regarding what you’d like to see covered in future editions, the best way to reach me is over on X at https://x.com/StackSmarter

With that out of the way, here’s the part you’re probably actually interested in, a Silver Update:

This is an exciting time in the silver market. The recent pullback has provided a nice entry point for anyone who saw the rise to nearly $35/oz back in October, and felt that they had missed their chance to stack additional metal before a major move higher.

However when I look at the current chart for silver, I suspect this buying opportunity may be drawing to a close.

Thursday's trading in silver saw a brief fall to the 61.8% Fibonacci retracement level. The price then quickly rallied and closed green on the day, forming a fine bull hammer candlestick. The relative strength index dipped as low as 38, indicating a moderately oversold condition.

This combination of technical factors suggests that a resumption of silver’s bull market may be near. Keep in mind, silver’s spot price remains up more than 32% year over year, and significant pullbacks are not uncommon in the volatile silver market.

The kneejerk selloff in the metals that followed Trump's election was quite likely an over reaction, and one that any stacker who remains a net purchaser of silver can benefit from.

Stay safe and happy stacking everyone! Until next time, Smart Silver Stacker out