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Usdxaug

Can SILVER BREAKOUT above 32.50?Silver (along with every other beaten down commodity) exploded on the news of China's stimulus! Unfortunately for silver bugs "somebody" was lying in wait with a mighty big hammer when it poked its head above 32.50. In a vacuum the fundamentals (supply/demand) are incredibly bullish. However in the macro context of China's housing and economic woes there is a bear case to be made for base and industrial metals. If Copper starts rolling over I expect Silver to follow. Raw cash injections might keep Chinese stocks afloat but I do not believe it alter the reality of the real economy and its effect on commodities. In addition to the issues with China, the US is at serious risk of a recession. 50 basis point cut has never been bullish. If you take the time to look at the last initial 50 basis point cuts it might curb your enthusiasm. I know... this time "its different" TECHNICALS: Silver may retrace to the $30 breakout level.... Great re-entry... if it holds... ( ; If Silver is able to hold above 32.50 the rally remains intact.
COMEX:SI1!Short
by TheSilverOracle
Updated

Select market data provided by ICE Data services. Select reference data provided by FactSet. Copyright © 2025 FactSet Research Systems Inc.© 2025 TradingView, Inc.

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