Parabolic Silver: How High?
It finally happened. Silver just crossed the $100 per ounce mark for the first time in history. That’s roughly double the previous all-time highs we’ve seen before. Right now, price is hovering just below that psychological level, around $99.
If you look at the chart, it’s pretty clear what’s going on: silver has been running hot. A near-parabolic move over the past few months. And let’s be real, moves like this never last forever.
At some point, profit-taking will kick in. Pretty much everyone holding silver right now is deep in the green after this rally. The big question is when. The $100 level feels like an obvious spot, but I wouldn’t be surprised if we push higher first, maybe $120, maybe even $150. Still, when the correction comes, it’ll likely be as sharp as the rally itself.
What’s your take on silver over the next few weeks and months?