After bottoming at around $22.50, the silver extended its gains due to fundamental news this week. This has opened the door to clear key resistance levels seen at the 50, 100, and 200-day moving averages (DMAs). If buyers push prices above the December 28 high of $24.48, I'm eyeing the December 22 peak at $24.60, ahead of the $25.00 psychological figure.
Silver is up 7.25% and I'm interested to see how we close the week. Silver is highly sensitive to interest rates and we have the jobs number coming out tomorrow, which will almost certainly knock those around. With that being said, I am bullish short term, but I still would prefer to find some type of value on a dip to take advantage of.
Right now I'm not seeing an appealing deals Ampex had some 10ox bars on sale, but they are never the cheapest and the deal does not look good at the moment.
I was looking to add a 10oz bar to the collection but at this time I'm going to need to wait.