Exploring Silver's Retreat: Analyzing the Path to Historic Highs
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As the silver price retreats to the $22 per ounce range, the market is left wondering about the metal's future trajectory. Can silver regain its momentum and head towards historic highs? Seeking insights into this matter, we turn to the expertise of a Squared Financial analyst.
The analyst acknowledges that reaching historic highs would entail a substantial increase of over 100% from the current price, emphasizing that such a feat is not impossible but would require time. However, in the immediate term, attention is drawn to the next significant resistance level at $24.50.
FXMAG.COM: The silver price has made a retreat back to the area of $22 per ounce. What's next for the metal - does it have a chance to head toward historic highs?
Squared Financial analyst:
The silver price has made a retreat back to the area of $22 per ounce. What's next for the metal - does it have a chance to head toward historic highs?
Historic highs mean over 100% increase from the current price, it's not impossible, but it will take time. In the meantime, the next solid resistance stands at $24.50.
A break above that resistance would clear the way for further gains toward $26 and $26.80.
