Silver futures prices are rallying as momentum indicators turn higher.
My firm has been bullish on Silver and Gold (precious metals) for the better part of the year, highlighting several trading opportunities along the way.
It appears that precious metals are in the midst of another tradable rally. And this should also bode well for select silver and gold mining stocks.
So how high can Silver prices go? As you can see in the chart image above, we have an initial price target for Silver up over $27. This would amount to a retest of this year’s high. Above that and Silver could move up to our MFU-3 (money flow unit) target at $34.
Price support for Silver futures sits at just above $22. That is the price area bulls need to see hold to remain bullish.
The author has a position in the mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.