The 50 day EMA is not necessarily the “be-all and end-all”, but it certainly does tend to attract a certain amount of attention. The $24
level underneath is likely to be supported, as it has shown itself to be
more than once in the past. Nonetheless, the fact that we have broken
above the $26 level before suggests that we very well could again,
perhaps reaching towards the $28 level. I do not think that it is a
market that will eventually go much higher than that, due to the fact
that the US dollar will continue to be eviscerated.
The 200 day EMA underneath is sitting at the $22.77 level, and that could of course attract a certain amount of support as well.
Regardless, I think that the market is one that you cannot be a seller
of, so I think every time we dip you should be looking at potentially
adding just a bit of silver to a longer-term position.